Wind Turbine Manufacturer FuhrlAnder AG Wins Lawsuit for Licence InfringementProf. Dr. Thomas B. Schmidt (2:30PM)
Business Wire India
Attorney Prof. Dr. Thomas B. Schmidt, the insolvency administrator of former wind turbine manufacturer Fuhrländer AG (FLAG), based in Liebenscheid, has obtained a judgment from Cologne regional court against Indian energy group Global Wind Power Limited (GWPL) that is worth 50 million euros. Finding in favour of the applicant, Cologne regional court ordered GWPL to pay these punitive damages following the infringement of a licensing agreement. The judgment is final and non-appealable.
GWPL is a joint venture between the Reliance ADA Group and the China Ming Yang Wind Power Group. The Indian company is a global player and builds wind turbines. To expand its area of expertise, GWPL has concluded technical licensing agreements with world-leading companies, including FLAG. Based in the Westerwald region of Germany, the insolvent FLAG manufactured wind turbines until the beginning of 2013.
The impending enforcement measures may be targeted at more than just GWPL: in the interests of the creditors, the insolvency administrator is also examining the possibility of holding its European subsidiaries liable.
About Prof. Dr. Thomas B. Schmidt
Attorney Thomas B. Schmidt is a specialist in labour and insolvency law and also a trained mediator. He is a partner of the Trier-based law firm Prof. Dr. Thomas B. Schmidt Insolvenzverwalter Rechtsanwälte Partnerschaft mbB, one of the leading insolvency and commercial law practices in the state of Rhineland-Palatinate, with offices in Trier, Zell (Mosel) and Kirchberg (Hunsrück). Thomas B. Schmidt has been working as an insolvency administrator since 1997 and as a renowned expert in insolvency plan proceedings and reorganisations. He also specialises in human resources restructuring. He is an honorary professor at the University of Applied Sciences in Trier, where he has lectured in corporate and insolvency law since 2002. Further information can be found at www.thomasbschmidt.de.
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Liebenscheid, Trier, Germany