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12/31/16 3:59 PM

#16047 RE: Skiluc #16040

Excuse me? Adam Levin and Mike Pope haven't submitted anything later than 2014. which were approved in July 2016. Nothing after that. If there were more I would post them.

Here's a translation of an article more recent than the one stickied that mentions their lack of financials and their viability as a company:

http://www.gruenderszene.de/allgemein/holtzbrinck-prozess-poolworks?ref=additional_article

google translate
Trial
Holtzbrinck calls three million from StudiVZ operators Pool Works
Christina Kyriasoglou on May 30, 2016 | Keine Kommentare

Exclusive. The Holtzbrinck publishing house wants money from its former daughter. The court process raises doubts as to whether the StudiVZ operator could pay Poolworks at all.

It was an exit that wrote German Tech history. The publisher Holtzbrinck bought in 2007 the VZ networks for more than a handsome amount by the founders Ehssan Dariani and Dennis Bemmann and investors. 85 million euros were intended for StudiVZ, MeinVZ and SchülerVZ.
But soon it went downhill, as the networks inexorably lost users. Holtzbrinck tried a rescue, dismissed coworkers and summarized the portals in July 2012 in a subsidiary named poolworks. In the end, the publisher decided later that year to repel the stumbling daughter again. The buyer was the US investment firm Vert Capital.



Now, nearly four years after the sale, Holtzbrinck is calling for three million euros from Poolworks. The publishing house has complained, the two sides met last Friday before the Berlin regional court.

Originally, Poolworks is said to have owed the disputed millionth sum of the Telefongesellschaft Telefonica. Holtzbrinck wants then in 2012 the demands of Telefonica bought. Since then, Poolworks of his former mother company owes this sum - provided the so-called assignment contract came into law.
In an assignment agreement a creditor buys another creditor from claims. The debtor remains the same and must repay his debts to the new creditor.
Why Holtzbrinck should have bought the demands of Telefonica, the publishing house does not want to comment on demand of founder's scene. Since it is due fees from the period May to December 2012, it is conceivable that Holtzbrinck hoped to make the VZ networks more attractive for a sale. A company is more interesting as a purchase object if it has only a debt with its partners - and not with a telephone company. The shareholder could spend such debts to relieve the daughter company.
The lawyers commissioned by Poolworks argue that the claims of three million euros were not correctly assigned by Telefonica to Holtzbrinck. They also said to the judge, it was considering a counterclaim . They also stated that some of the debts had already been settled. However, on the basis of the documents submitted by Holtzbrinck, presiding judge Michael Schwarz concludes: "It does not look good for the defendant [Poolworks]". And: "The impression is, the defendant is not properly payable - otherwise such amounts do not start at all".
Does the suit jeopardize the existence of Poolworks?
For a poor financial situation of the StudiVZ company at least the last public financial statements speaks. It comes from the year 2013. In it, Poolworks Germany writes: "The current liabilities of the company exceed the current assets by 22.823.074 euros." The financial statements for the year 2014 should already have been submitted by September 2015, but to this day they are not to find. At the request of the founder's party this January, the conclusion was just in the work. Agneta Binninger, director of the VZ networks, wrote in an email: "If you reorganize a large company, it costs time and money. Especially since we have to balance according to German, English and American principles. "
Binningerstrasse was against Gründerszene on to employ another 15 employees for the VZ networks. At that time, she was very confident that the VZ networks had achieved black figures for the first time, and that a new platform was planned.



On another request to the process and the alleged liquidity problems, Poolworks has not reported itself to the founder scene. From the Holtzbrinck environment it was said that in order not to fall into the statute of limitations, one had to sue now. It is not, however, that there is still much to be done.

The negotiations will continue in the coming weeks. The pool team's lawmaker noted that the next session would include pool pool members. Richter Schwarz said, "I can think of that. This could affect the existence. "
Further information can be sent to christina [at] gruenderszene.de.
Picture: Getty Images / Danita Delimont ; Collaboration: Kim Richters




All images in this article are subject to the Creative Commons license ( Attribution-NoDerivs CC BY-ND ; link to legally binding license agreement ). Except are other pictures of Panthermedia, Fotolia, Pixelio, Morguefile as well as press photos or reprinted pictorial material.
Christina Kyriasoglou
Christina Kyriasoglou has been an editor at the founding scene since January 2015. Before that, she attended the Cologne School of Journalism for Politics and Business with stations at the FAZ, the world and the time. She studied economics and political science at the University of Cologne and International Political Economy at King's College London.



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I'll translate the next few article after that...