Liquidation of the company is progressing, while legal complexity increases

09.07.2025

In the 2024 financial year, the Frankfurt-based company OWH SE i.L. (OWH), which is currently in liquidation, reduced its total assets by around 5.6% from EUR 2.40 billion to EUR 2.27 billion. As in previous years, loans granted could be reduced in particular. As a result, loans to customers, an important parameter for liquidation, fell by around 25% year-on-year from EUR 1.53 billion to EUR 1.15 billion.

At the same time, receivables from banks increased significantly from EUR 68.3 million to EUR 561.7 million, as OWH can invest the repayments to earn interest. Liabilities to banks and customers add up to around EUR 359 million. Subordinated debt amounted to EUR 836 million.

The net loss for the financial year amounted to EUR 8.2 million.

“In 2024, we once again succeeded in reducing loan receivables ahead of schedule in some cases,” says CFO Miro Zadro, one of the two liquidators at OWH. “But we are also noticing that the proportion of exposures whose settlement is associated with complex legal disputes continues to rise.” Numerous proceedings are ongoing in various jurisdictions before domestic and foreign courts, partly against the backdrop of rapidly changing sanctions law. Some of them are being brought by OWH itself to enforce claims. However, they are also directed against OWH by other parties because transactions carried out or announced by OWH are being legally challenged.

Another important step towards liquidation was taken on June 24, 2025 with the resolution of the Annual General Meeting to transfer existing pension obligations to a company set up specifically for this purpose and to sell this company to a suitable bidder.

The 2024 Annual Report with all the details and further explanations can be downloaded from the OWH website at the following link.