Investment fraud with containers: P & R creditors can hope for a billion

Bankruptcy administrator Michael Jaffé has given hope to the 54,000 creditors of container rental company P & R about a year after the billion-dollar bankruptcy.

After concluding a settlement agreement, he and his colleagues wanted to "lease more than one billion euros" in leasing the container fleet and sales over the next few years and distribute them to creditors. This was announced by Jaffé in Munich. By the end of this year should be already taken 250 million euros.

"Features of a snowball system"

P & R had sold equity to 1.6 million containers, of which only one third existed. The prosecution saw "features of a pyramid scheme", the company founder was charged with fraud, but because he is seriously ill, it comes to the process no longer.

The claims of investors, according to Jaffé amount to "just over three billion euros." The decision to reuse the containers and not make a forced sale has proven to be correct: "If the structures had collapsed, the creditors would have gone out of their hands."