Tennor Holding declared bankrupt by investor Lars Windhorst

A Dutch court has declared Hertha investor Lars Windhorst’s Tennor Holding bankrupt. The 44-year-old businessman has already lodged an objection and emphasized via Twitter: “The Tennor Group and my group of companies are solvent.”

The judgment of the court had already been made on November 2nd, as a spokesman for the Amsterdam Tax Court told the German press agency confirmed. In the opinion of the court, the holding company is apparently unable to meet its current payment obligations.

Tennor wants to take action against the decision now. “We have filed an objection,” announced a company spokesman. One is by no means “insolvent. We do our business as normal, we have a high cash flow.” However, until the judgment comes into force, the judgment of the court stands.

Windhorst and its Tennor Holding acquired 49.9 percent of Hertha BSC GmbH & Co. KGaA in 2019 for 224 million euros. In July 2020, Tennor put another 150 million euros into the Bundesliga club, increasing its stake to 66.6 percent.

An insolvency administrator has already been entrusted with the procedure; he is now supposed to search for values ​​in Tennor Holding BV and, if necessary, sell them so that the creditor to be paid (apparently a Greek billionaire) gets his money back.