Insolvency proceedings at Tipster Ltd are progressing with the appointment of lawyer Dr Jörg Gollnick as the troubled operator's provisional insolvency administrator.
Gollnick works at Cologne law firm Heidland Werres Diederichs Rechtsanwälte. He is also the provisional insolvency administrator for Tipster Service GmbH, a company that is part of the Tipster group.
Gollnick said that the restructuring hinges on the sports betting operator’s value.
“With the insolvency application for Tipster Ltd in Germany, the course has been set for the restructuring of the entire Tipster group of companies,” said Gollnick. “The group is very valuable: the annual turnover of Tipster Ltd alone was more than €250m.”
“We have set up a structured investor process in order to use a strong partner to support the business operations for the Tipster Group including its franchisees in the long term.”
Alleged Tipster raid
In April, raids took place in North Rhine-Westphalia, Bremen, Berlin, Saxony an..