Light Now AG and Schirp Schmidt-Morsbach Organize Quorum for Deutsche Lichtmiete Bonds Meeting

On July 17, 2024, OAB investment Light Now AG and Schirp Schmidt-Morsbach Rechtsanwälte announced they have swiftly organized a quorum to convene creditors' meetings for Deutsche Lichtmiete bonds 2018/2023, 2019/2025, and 2021/2027.

The primary agenda includes voting out One Square Advisory Services S.à.r.l. as the Joint Representative and electing a new one free of conflicts of interest. Light Now AG, a shareholder of OAB AG, spearheaded this initiative, gathering sufficient responses from smaller bondholders within 48 hours.

The initiative aims to clarify the situation for creditors and hold the insolvency administration accountable, questioning the actions of Frank Günther and insolvency administrator Rüdiger Weiß regarding asset management and liquidation procedures.

Light Now AG proposes continuing business operations rather than liquidating Novalumen, arguing it would better satisfy creditor interests. Despite their offer to acquire Novalumen's assets, there has been no response from the insolvency administrator.