Attorney Prof. Dr. Thomas B. Schmidt, the insolvency administrator of former wind turbine manufacturer Fuhrländer AG (FLAG), based in Liebenscheid, has obtained a judgment from Cologne regional court against Indian energy group Global Wind Power Limited (GWPL) that is worth 50 million euros. Finding in favour of the applicant, Cologne regional court ordered GWPL to pay these punitive damages following the infringement of a licensing agreement. The judgment is final and non-appealable.
GWPL is a joint venture between the Reliance ADA Group and the China Ming Yang Wind Power Group. The Indian company is a global player and builds wind turbines. To expand its area of expertise, GWPL has concluded technical licensing agreements with world-leading companies, including FLAG. Based in the Westerwald region of Germany, the insolvent FLAG manufactured wind turbines until the beginning of 2013.
The impending enforcement measures may be targeted at more than just GWPL: in the interests of the creditors, the insolvency administrator is also examining the possibility of holding its European subsidiaries liable.
Thomas B. Schmidt | http://www.thomasbschmidt.de