German sprayer maker Herbert Dammann has filed for insolvency and the Tostedt District Court has appointed a trustee. Based in Buxtehude, Lower Saxony the Dammann family business is primarily known for producing crop sprayers, especially large capacity trailed and self-propelled machines as well as airport equipment.
The Tostedt District Court has appointed trustee, attorney Dr. Per Hendrik Heerma from Hamburg will be overseeing the management of Dammann since last week. The company itself has not yet issued a public statement on its current situation.
What does a legal guardian do?
In Germany, a trustee is a court-appointed independent auditor who oversees the management during a company’s self-administered restructuring, explains the law firm Tiefenbacher, which specializes in insolvency law. Unlike a traditional insolvency administrator, the company’s management retains control over its day-to-day operations.
What happens next for Dammann?
What the future holds for Dammann and whether the management will remain unchanged is still unclear. The selection of the insolvency administrator could indicate a planned restructuring.
The business is currently led by Nadine Dammann. Together with Lars Meinking-Dammann and Frank von Bargen, she forms the management team of the machine manufacturer.
Dammann backgroud
Herbert Dammann founded the company in 1979. According to the company’s website, Herbert Dammann was a farmer and “always interested in improving his prevailing agricultural technology to suit his needs”.
Nadine Dammann runs the company in its second generation. According to her own statements, Dammann employs approximately 150 people. In addition to agricultural machinery, Dammann also manufactures municipal equipment, airport technology, and special-purpose vehicles.
Chantry Dammann has been the UK distributor for several years.
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