Property market shifts - Bankruptcy court issues arrest warrant for investor Windhorst
An arrest warrant has been issued against businessman Lars Windhorst by the insolvency court in Hanover. A court spokesperson confirmed this response to a query on Tuesday. Windhorst is accused of neglecting his responsibilities in the insolvency application process for IZ Hannover GmbH. He's been labeled the de facto director of the GmbH by the court and didn't show up at a hearing on the 22nd of April without a valid reason. The warrant was issued on the 23rd of May. Both Lars Windhorst and his Tennor Group have appealed the warrant.
News outlets such as the "Hannoversche Allgemeine Zeitung" reported on this development earlier. However, a dependent of Windhorst's Tennor Group confirmed that an appeal had been filed against the arrest warrant. The arrest warrant is a coercive measure by the court to compel Windhorst to provide his side of the story. Windhorst asserts his innocence by denying the accusation that he deliberately shirked his duties. He intends to talk to both the court and the insolvency administrator about the issue.
On Wednesday, a press conference by Windhorst regarding Flensburger Schiffbau-Gesellschaft, a shipyard, has also been announced.
