Why Nobiskrug’s File for Insolvency is Raising Questions

With an international clientele including the military as well as the world’s top ranked billionaires, Nobiskrug insolvency has sparked suspicion and is raising questions across the board.

A Turning Point in Management

In 2009, Nobiskrug was acquired by one of France’s wealthiest businessmen, Iskandar Safa who has a networth of over $1.1 billion. The acquisition of Nobiskrug is important and marked a fundamental turning point for the company’s history.

As recent reports explain, “It’s also worthwhile to consider Safa as a chairman of Nobiskrug, the impact of his status in the company and his questionable involvement in notable cases of illegal activity including international fraud and corruption.”

Nobiskrug’s Future: To Be Continued

Whatever the cause, it is up to the lawyer or expert appointed to the case to determine why Nobiskrug has filed for insolvency and what its future will be.

As an expert in matters of insolvency and restructuring as well as maritime economy, Hendrik Gitterman from Hamburg-based law firm Reimer will now lead the case.

Interestingly, Gitterman commented, “Bankruptcy often means not the collapse of a company, but a chance to start without debts.”

With a contextual understanding of insolvency and what leads to it, Gitterman’s remark is a telling reminder that companies may indeed file for insolvency intentionally in a bid to clear themselves of debt.