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The ROCO "crash" case
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Offline ozzman  
#1 Posted : 19 May 2009 02:22:39(UTC)
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ozzman

Australia   
Joined: 23/11/2007(UTC)
Posts: 1,828
Location: Sydney, Australia
Thanks Lutz. Let's hope that the brand name won't be tainted by association with a bunch of greedy people.
Gary
Z Scale
"Never let the prototype get in the way of a good layout"
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Offline mike c  
#2 Posted : 19 May 2009 03:27:32(UTC)
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mike c

Canada   
Joined: 28/11/2007(UTC)
Posts: 8,243
Location: Montreal, QC
Drehscheibe Online had some news about the Roco Insolvency matter a few weeks back. Apparently Mr. Magdefrau was supposed to appear before some tribunal and was not present.

The Liquidators set up a "rescue" company (Modelleisenbahn GmBH) to operate the company (Roco) during the liquidation process and to find a new owner for Roco. In the end, this "Rescue" company ended up buying the company at liquidation and it was then sold to Mr Haslberger, who now runs the show and has since also acquired Fleischmann.

It's kind of like George Bush Sr asking Dick Cheney to find the best candidate to run for VP with his son and guess who ended up getting the job???

There was always something a little strange about both of those stories to me.

Regards

Mike C
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Offline river6109  
#3 Posted : 19 May 2009 10:52:05(UTC)
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river6109

Australia   
Joined: 22/01/2009(UTC)
Posts: 14,878
Location: On 1965 Märklin Boulevard just around from Roco Square
I remember at the time of the liquidation of Roco, Mr. Magdefrau was devastated.
But being forced into bankruptcy makes you personally powerless.
If anything becomes of it, that the bank has had its fingers in it, the compensations could be in billions,
apparently everyone pointed the finger at Mr. Magdefrau of having mismanaged the company but sofar or after 4 years no procecution has taken place, which as one german lawyer said is very unusual under german law procedures.

John
https://www.youtube.com/river6109
https://www.youtube.com/6109river
5 years in Destruction mode
50 years in Repairing mode
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Offline steventrain  
#4 Posted : 19 May 2009 16:38:28(UTC)
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steventrain

United Kingdom   
Joined: 21/10/2004(UTC)
Posts: 31,701
Location: United Kingdom
Thanks for the report, Lutz.
Large Marklinist 3- Rails Layout with CS2/MS2/Boosters/C-track/favorites Electric class E03/BR103, E18/E118, E94, Crocodiles/Steam BR01, BR03, BR05, BR23, BR44, BR50, Big Boy.
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