End of LRP?
 

https://www.insolvenzbekanntmachunge...massnahmen.htm

5 IN 439/17

-
In the proceedings concerning the application by

LRP electronic GmbH, represented by the managing director Jürgen Lautenbach,
Hanfwiesenstr. 15, 73614 Schorndorf Court of
registry: Amtsgericht Stuttgart Register court Register No .: HRB 281999
- Debtor
in opening insolvency proceedings on his own assets
-

Decision:

In order to prevent any adverse changes in the debts of the debtor up
to the decision on the application, 18.05.2017 At 10:30 am (§§ 21,
22 InsO):
Measures of enforcement including the execution of an arrest or
interim injunction against the debtor are prohibited,
Insofar as immovable property is not involved; Measures already commenced are
temporarily terminated (Section 21 (2) no. 3 InsO).
The temporary insolvency administrator will be

appointed by Dr. Philipp Grub
Reinsburgstraße 27, 70178 Stuttgart,
phone: +49 711 966890, fax: 0711 9668919


.
Dispositions of the debtor over objects of the debtor's assets are only
effective with the consent of the provisional insolvency administrator (§ 21 para. 2 no. 2
InsO).
The provisional insolvency administrator is not the general representative of the debtor.
It has the task to secure and
maintain its assets by monitoring the debtor (§ 22 para. 1 sentence 2 no. 3 InsO).
The provisional insolvency administrator has to examine whether the debtor's assets will cover the costs of the proceedings (§ 22
para. 1 sentence 2 no. 3 InsO).
The debtor is forbidden to dispose of
all or part of the debtor 's bank accounts and the debtor 's debt. With regard to the bank accounts and the debtors'
outstanding debts, the authority to manage and dispose of the assets
shall be transferred to the temporary insolvency administrator. The provisional insolvency administrator is authorized to
collect bank deposits and other debts from the debtor as well as receive incoming
funds.
The accounts of the debtor's leading credit institutions are obliged to the provisional
insolvency administrator in respect of the disclosure.
The debtors of the debtor (third party debtors) are forbidden to
pay the debtor . They are requested
to make payments to the provisional insolvency administrator only in compliance with this order (§ 23 para. 1 sentence 3 InsO).
In accordance with section 8 (3) InsO, the provisional insolvency administrator is charged with making the
notifications of the decision to the debtor of the debtor (§ 23 para.
1 sentence 2 InsO) and to provide proof thereof.
The provisional insolvency administrator is entitled to enter the business premises and
operational facilities of the debtor, including the additional rooms,
and to make inquiries there.
The debtor has to allow him access to the books and commercial papers and to issue them to him, upon request, pending the decision
to open the proceedings. It shall provide it with all the information necessary for
the safeguarding of the future insolvency estate and the elucidation of the
debtor's assets.
The provisional insolvency administrator is also charged to
examine as an expert whether there is a relevant reason for the debtor's legal
form and the prospects for the continuation of the debtor's undertaking
.



Advice on the right of appeal:


An immediate appeal ('the complaint')
may be lodged against the decision .

The appeal shall be lodged with the

Amtsgericht Stuttgart
Hauffstraße 5
70190 Stuttgart within an emergency period of two weeks

.

The period starts with the promulgation of the decision or, if this is not
announced, with its delivery or with the effective public
notice in accordance with § 9 InsO on the Internet (www.insolvenzbekanntmachungen.de). The
public notice suffices to provide proof of service to all parties,
even if the InsO requires a special service in addition to it, § 9 (3) InsO.
It shall be deemed to be effected as soon as two
additional days have elapsed after the date of publication , § 9 (1) sentence 3 InsO.
The first occurring event (promulgation, delivery or effective
public notice) is decisive for the beginning of the period.

The appeal shall be lodged in writing or by means of a statement to the minutes of the
office of the said court. It may also be declared before the office of every
magistrate's office; However, the deadline shall be
respected only if the minutes are received in good time by the above-mentioned court. A legal
participation is not required.

The complainant must sign the complainant or his authorized
representative.

The appeal must contain the name of the
contested decision,

Didn't nosram stop recently too guess Chinese imports are starting to take their toll

The Nosram brand has also been owned by Jürgen Lautenbach, so that makes sense. According to an RC helicopter news page, several companies are already interested in taking over, maybe Hobbico, Great Planes or Horizon will add some blue to their portfolio soon.
It will be interesting to see if the new management will continue with their racing series and distributing the racing related stuff of other brands on the continent. LRP is the second AE distributor to bite the dust in just as many years IIRC, Thunder Tiger Europe being the other one. This may be yet another step towards direct B2C distribution. I guess we'll have to wait and see...

How sad..:cry: Met Jurgen many years ago, a great guy and very committed to RC racing. He has produced many great products particularly motors and esc's over the years. I guess the split from AE/Reedy a couple of years back when AE started to concentrate on Reedy products was the start of the decline. I do hope someone takes over the business.

If its true gutted. Also means nosram may be part of that as well seeing as they are under the lrp umbrella. Still is quite plausible that they went a bit over board on what they supplied in the rc industry so if someone does take over think they will stop making buggies and cars and focus on the electronics side as thats where the bread and butter has been for lrp, however they didnt move with the times and need to produce a hand held full control box like hpi and most other brands as who wants to take a laptop to every race event to change settings on their esc. Thats why Lrp have lost a lot of their business due to this.

Not sure about that. I am not an expert, but from what I continue hearing, the major profits in the industry are made with the RTR items, not the proper race stuff. My guess would be that taking over the distribution of AE paired with the uncertain situation of HPI may have something to do with it.
RC is a small niche, and competitive racing even more so. As much as I regret it, I doubt that on the long run a quality company can compete with Chinese manufacturers, support their racing branch, and satisfy their non-hobbyist investors. Tamiya decided to reduce racing, Kyosho struggles on the continent, and even the bunch if former racers who founded Xcite RC focus on the cheap stuff. Alas, these seem to be no good times for the industry and the hobby.