Willrodt is provisional administrator of Sono Motors

Sono Motors GmbH has successfully applied for protective shield proceedings, in which Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH was appointed as provisional administrator. It is assumed that more than 20,000 creditors are affected.

On May 15, 2023, the solar car start-up Sono Motors filed an application for protective shield proceedings with the competent local court in Munich. The application was approved and Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH was appointed provisional insolvency monitor.

In the coming months, we will support the debtor-in-possession proceedings and the company's realignment. To this end, a restructuring plan must be drawn up during the proceedings

Ivo-Meinert Willrodt, PLUTA Rechtsanwalts GmbH

In January of this year, Startbase reported on the European funding for Sono Motors. The company then announced a realignment of its business model at the end of February 2023, focusing on retrofitting and integrating solar technology into third-party vehicles and fleet operators. At the same time, the "Sion" solar car project was discontinued with immediate effect. A repayment plan was developed to settle customers' claims regarding Sion reservations. Unfortunately, the necessary financing could not be raised, which led to the management filing for protective shielding.

The protective shield proceedings enable Sono Motors to continue business operations and implement the necessary restructuring measures under the provisional administrator. Sono Motors emphasizes that despite the protective shield proceedings, the focus remains on the development of sustainable mobility solutions. As part of the proceedings, the company is being supported by a Dentons restructuring team led by restructuring experts Dr. Holger Ellers and Dirk Schoene. The company is confident that the reorganization and continuation of business operations will lead to long-term success.

More than 20,000 creditors expected

As soon as the proceedings are officially opened, creditors will have the opportunity to register their claims with the administrator in the insolvency schedule. This is generally not permitted during the provisional proceedings. Proceedings are expected to be opened in August 2023. The administrator will inform all creditors immediately as soon as claims can be filed. According to an initial review of the documents, more than 20,000 creditors are affected by these proceedings.