Gleiss Lutz advises LichtBlick on cooperation with BEV
LichtBlick SE is offering BEV customers the opportunity to conclude electricity and gas supply contracts with it at special terms and conditions. For this purpose, it is entering into a cooperation with BEV’s preliminary insolvency administrator. Preliminary insolvency proceedings on the assets of BEV Bayerische Energieversorgungsgesellschaft mbH were opened on 29 January 2019. BEV will not be continuing its business operation. The preliminary committee of creditors has approved the cooperation.
With over 650,000 customers, LichtBlick is Germany’s largest independent provider of green electricity and green gas. The company was founded in Hamburg in 1998 and generated around 700 million euros turnover in 2018.
In making BEV customers this offer, LichtBlick wishes to set an example for the liberalized energy market and prevent situations such as that of BEV from negatively impacting the behaviour of consumers when they switch provider. LichtBlick has been voted one of the fairest electricity providers several times and offers customers affected an ecological and sustainable alternative.
LichtBlick SE was advised by the following team of Gleiss Lutz lawyers led by Dr. Patrick Mossler (partner, lead) and Dr. Daniel Heck (both corporate/M&A, Hamburg): Dr. Andreas Spahlinger (partner), Friedrich Schlott (both insolvency, Stuttgart), Dr. Jacob von Andreae (partner, energy industry law, Düsseldorf), Dr. André Lippert (energy industry law, Berlin), Dr. Manuel Klar (data protection, Munich), Dr. Stefan Lingemann (partner, employment, Hamburg), Josefine Chakrabarti (employment, Berlin).
Gleiss Lutz has a leading insolvency practice which frequently advises on transactions during restructuring.