Kovacev continues business operations of the insolvent LTG companies in Mölln
Hamburg – By order of 30 January 2026, Schwarzenbek Local Court appointed German lawyer Vanja Alexander Kovacev from the commercial law firm CMS preliminary insolvency administrator for the assets of LTG AG. Kovacev was also appointed the preliminary insolvency administrator for LTG Bau Service GmbH by order of 2 February 2026. The business operations of both companies will continue in full and without any restrictions. The salaries of the eight employees are initially secured for three months by the insolvency benefit.
This week, further companies of the LTG Group's 14 companies filed their own applications for the opening of insolvency proceedings and Kovacev was also appointed preliminary insolvency administrator for their assets. Kovacev and his team led by German lawyers Sonja Welzel and Kuno von Gizycki are currently trying to get an overview of the situation.
The Lauenburgische Treuhand Group with its registered office in Mölln is active in the real estate sector. As the holding company, LTG AG develops construction projects in the residential property sector with a particular focus on sustainability and social housing and implements them through the companies belonging to the LTG Group. The residential complexes are being developed in particular in the Ostholstein region and the area around Dresden.
The preliminary insolvency administrator is optimistic that the restructuring of the LTG Group can be successful: "The course for restructuring the LTG Group had already been set by the management prior to insolvency and is now being implemented," said Kovacev. The management consultancy firm Dr. Wieselhuber & Partner GmbH (W&P), directed by Fabian Hammer, was commissioned to set up a structured M&A process. The market will be approached shortly and talks with potential investors will then begin. Kovacev explained: "Although it is not yet possible to make any concrete statements at this stage of the proceedings, the market is already showing a great deal of interest in acquisition in the first week of the insolvency proceedings. Interested parties are cordially invited to participate in the M&A process and to contact the preliminary insolvency administrator or the management consultancy firm Dr Wieselhuber & Partner GmbH (W&P)."
Björn Münchow, CEO of the holding company and director of the subsidiaries, emphasised that completion of the construction projects already underway this year remains realistic. "It can also be assumed that the projects that have not yet been started can also be realised this year if an investor is found promptly," said Münchow.
The LTG Group is being advised on insolvency law by German lawyers Dr Robert Brahmstaedt and Wanja Postel from the restructuring and insolvency law firm GÖRG.
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