Insolvency of Lars Windhorst's holding company, allegedly confirmed in the latest report.
Unraveling Financial Woes: Lars Windhorst's Tennor Holding Undergoes Insolvency
The Dutch tax authority's request for insolvency proceedings is driving the financial fiasco surrounding Tennor Holding B.V., a subsidiary owned by investor Lars Windhorst. This troubling news has been echoed by both "Manager Magazin" and "Financial Times."
The insolvency petition revolves around tax claims amounting to approximately €5 million, leading to the appointment of an insolvency administrator in Amsterdam. Tennor Holding has been hitherto a cornerstone in the construction of Windhorst's business network.
Windhorst Describes Tennor Holding as a "Bad Bank Without Assets"
Tennor Holding, shrouded in financial mystery, has failed to publish annual reports for several years, according to the authorities. Earlier in 2021, an insolvency application was lodged; however, Windhorst managed to strike a deal with the creditor.
As of February, Windhorst offhandedly dismissed the insolvency implications of the holding, describing it as a "bad bank without assets." With the Dutch headquarters relocated to Switzerland, the investor hints at potential reemergence while his Netherlands-based creditors grapple with an empty company.
Shift of Corporate Group's Focus to Switzerland
Multiple companies under the Tennor Group banner, unaffected by Tennor Holding's insolvency, allegedly continue to operate. The group announced its self-reorganization in 2022, with the Tennor International in Switzerland now serving as the center of Windhorst's corporate group.
Windhorst has faced financial pitfalls in the past, leading northern German shipyards FSG and Nobiskrug into bankruptcy. His engagements with Bundesligist Hertha BSC reportedly cost the holding over €300 million. Windhorst and his business dealings have been under our watchful eye on numerous occasions.
The above text incorporates new insights gleaned from additional sources, providing a more comprehensive picture of Lars Windhorst's ongoing financial struggles.
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- Despite Tennor Holding's insolvency and Windhorst's description of it as a "bad bank without assets," multiple companies under the Tennor Group continue to function.
- The Tennor Group has shifted its focus to Switzerland, with Tennor International in Switzerland now serving as the center of Windhorst's corporate group, following the group's self-reorganization in 2022.
