Lilium has publicly announced that during its mergers and acquisition process (M&A) it will retain the services of the UK headquartered “Big Four” multi-service firm KPMG. The Local Court of Weilheim granted Lilium’s request for self-administered insolvency.
Two court-appointed lawyers will join the subsidiaries Boards of Management as Chief Insolvency Officers (CIOs): Prof. Dr. Gerrit Hölzle and Dr. Thorsten Bieg. Both are experienced lawyers and partners at GÖRG Partnerschaft von Rechtsanwälten mbB. In addition, Prof Dr Gerrit Hölzle holds an honorary professorship at the University of Bremen and teaches insolvency law. They have worked on prominent cases during times of corporate crisis for the likes of companies such as Senvion and The Social Chain AG.
Mr. Ivo-Meinert Willrodt, Managing Partner at PLUTA Rechtsanwalts GmbH, has been appointed by the court as provincial custodian for protecting the interests of the creditors. As an experienced lawyer acting in the capacity of Trustee for the solar car start-up Sono Motors and the drone manufacturer EMT, Mr. Ivo-Meinert Willrodt is an expert in restructuring law.
Klaus Roewe, CEO of Lilium emphasized Lilium’s determination to succeed and continue its progress and advancement in electric VTOL jet aviation, with the help of these restructuring experts:
“With the support of our appointed custodian and the restructuring experts, we at Lilium remain fully focused on re-emerging following restructuring, with fresh investment to support the all-electric Lilium Jet’s path to certification and entry into service.”
Lilium currently has two jets on the assembly line, while the third jet is awaiting its wings and fuselage to be completed at the Spanish aerostructures suppliers Aciturri and Aernnova.
From the technical and engineering experts on the factory floor and testing facilities, to the CEO and other top corporate officers, Lilium is very focused on completing their noble mission of providing its customers and the planet with safe, economically viable and clean electric air transportation. With Lilium’s over 1,000 employees receiving information about their continued employment compensation, they’re pushing through their objectives for Lilium to achieve its first manned flight. This will be one major milestone among the many positive outcomes that are in store for Lilium. Speaking to some of Lilium’s employees during the 2024 NBAA Business Aviation Convention & Exhibition (NBAA-BACE) in Las Vegas, gave a huge grasp into the passion and dedication they have for their company. These employees keep their eyes gazed towards a future, where Lilium’s electric VTOL jets will be commonplace in the air, and people can travel between cities in an environmentally friendly and luxurious way.
Everyone in this industry should be cheering for Lilium in their endeavor and applauding them for their perseverance. A success for Lilium is a success for us all; not just aviation enthusiasts but all inhabitants of this precious planet we call home.
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