Official statement addressing LRP Electronic GmbH insolvency

0 May 22, 2017, 5:01 p.m.

By Aaron Waldron
LiveRC.com

Rumors about the financial situation of LRP Electronic GmbH surfaced last week, with the German brand officially filing for insolvency with the Stuttgart court on Thursday, May 18. Best known for its electronics but also an important importer of HPI Racing, Team Associated, AKA Products, JConcepts and Sanwa, the company intends to continue business as usual while seeking an investor and considering restructuring. To address the rumor, founder Jürgen Lautenbach issued the following statement.

You can read the full insolvency case details here:
www.insolvenzbekanntmachungen.de/cgi-bin/bl_aufruf.pl?PHPSESSID=e02c687255c02ef8a6bf2f9e993c670d&datei=gerichte%2Fbw%2Fagstuttgart%2F17%2F15_IN_439_17%2F2017_05_18__10_28_16_Sicherungsmassnahmen.htm

Press release from LRP:
www.lrp.cc

Concerning the rumours and false information floating around I would like to clarify as follows:

LRP electronic GmbH filed for insolvency at the Local Court of Stuttgart, Germany. By decision of the Local Court of May 18th, 2017, lawyer Dr. Philipp Grub, Reinsburgstraße 27, 70178 Stuttgart, Germany, was appointed Preliminary Insolvency Administrator.

During the institution of the preliminary insolvency proceedings it is intended to continue the business activities of the LRP electronic GmbH in order to examine the possibilities of restructuring. Furthermore, an M&A process was initiated to find an investor for the company.

Jürgen E. Lautenbach

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