Deut­sche Pfand­ver­wer­tung — Our exper­ti­se and ser­vices in lien law.

Why Deut­sche Pfand­ver­wer­tung?

We are aut­ho­ri­zed to con­duct public auc­tions — and act as part of the admi­nis­tra­ti­on of jus­ti­ce in the func­tion­al sen­se (§ 34b GewO). The public auc­tion as a sta­tu­to­ry stan­dard case of pledge rea­liza­ti­on crea­tes legal cla­ri­ty and fina­li­ty. It results in a legal­ly com­pli­ant valua­ti­on that is reco­gni­zed by courts and tax aut­ho­ri­ties.

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Our publicly appoin­ted and sworn auc­tion­eers spe­cia­li­ze in the rea­liza­ti­on of con­trac­tu­al or sta­tu­to­ry liens in distres­sed and enforce­ment situa­tions .

Our value maxi­miza­ti­on under time pres­su­re.

In spe­cial situa­tions, what counts is a resi­li­ent, fast and legal­ly com­pli­ant rea­liza­ti­on chan­nel — with a clear goal: the best pos­si­ble rea­liza­ti­on pro­ceeds through a pro­fes­sio­nal­ly mana­ged pro­cess. Through pre­cise ana­ly­sis, clear struc­tu­ring and the right auc­tion archi­tec­tu­re, we acti­va­te pre­cis­e­ly tho­se mar­ket par­ti­ci­pan­ts who poten­ti­al­ly offer the hig­hest value — legal­ly com­pli­ant, effi­ci­ent and final­ly by win­ning the bid.

Our hybrid M&A pro­cess com­bi­nes the mar­ket breadth and con­fi­den­ti­al infor­ma­ti­on struc­tu­re of the M&A approach with the fina­li­ty and pre­dic­ta­bi­li­ty of a sove­reign act of accep­tance pur­su­ant to Sec­tions 1204 et seq. BGB.

Our strengths:

  • Speed with struc­tu­re: We start imme­dia­te­ly, deli­ver a mar­ke­ting stra­tegy within a very short time and, if desi­red, a rea­lizable inven­to­ry and valua­ti­on (expert opi­ni­on).

  • Auc­tion design and pro­ven pri­cing: Whe­ther auction/auction, hybrid M&A, asset deal by pri­va­te trea­ty or pack­a­ging — we choo­se the instru­ment that expe­ri­ence has shown achie­ves the hig­hest pro­ceeds for the estate or the secu­red par­ty.

  • Legal­ly com­pli­ant pro­ces­sing: every step is docu­men­ted, com­pre­hen­si­ble and desi­gned to meet the requi­re­ments of the cre­di­tors’ com­mit­tee, court and secu­red par­ty. This mini­mi­zes lia­bi­li­ty risks and increa­ses accep­tance of the pro­cess.

  • Inter­na­tio­nal reach: We increase demand through digi­tal mar­ke­ting and inter­na­tio­nal bid­ding cir­cles — espe­ci­al­ly for IP rights, com­pa­ny shares, spe­cial machi­nery, tech­ni­cal equip­ment and loca­ti­on-based assets.

  • Trans­pa­ren­cy right through to com­ple­ti­on: clear time and reve­nue plan­ning, regu­lar reports and a robust data room (VDR/NDA) ensu­re that the cli­ent remains in con­trol at all times.

We com­bi­ne speed, mar­ket access and legal com­pli­ance to crea­te a reco­very pro­cess that quick­ly gene­ra­tes rea­lizable pro­ceeds from cri­sis assets.

Legal con­for­mi­ty and fina­li­ty through sove­reign award

The public auc­tion is not a nego­tia­ti­on pro­cess, but a legal­ly com­pli­ant, sove­reig­n­ly legi­ti­mi­zed pro­ce­du­re; the accep­tance of the bid ends the pro­ce­du­re in a legal­ly bin­ding man­ner and excludes any ren­ego­tia­ti­on. Sig­ning and clo­sing coin­ci­de in one act (§ 156 BGB).

Core fea­tures:

  • Sove­reign legal act with direct legal con­se­quen­ces

  • Legal com­pli­ance and trans­pa­ren­cy — veri­fia­ble and docu­men­ted

  • Fina­li­ty of the result — no rever­sal, no clo­sing risk.

Effi­ci­en­cy and value maxi­miza­ti­on

Our pro­ce­du­res com­bi­ne legal pre­cis­i­on with eco­no­mic effi­ci­en­cy.

  • Clear dead­lines and short terms (regu­lar­ly 4 — 6 weeks)

  • Pre­dic­ta­ble cost struc­tu­re due to stan­dar­di­zed pro­ce­du­re (low publi­ca­ti­on fee, buy­er’s com­mis­si­on, stag­ge­red), regu­lar­ly up to approx. 70 % below the cos­ts of a distres­sed M&A pro­cess (no over­heads, no retai­ners, etc.)

  • Digi­tal data room (VDR) and exis­ting con­tracts, own auc­tion plat­form with live stream,

  • Mar­ket value and pro­ceeds esti­ma­te,

  • Bid­ding com­pe­ti­ti­on via qua­li­fied buy­er and inves­tor net­work, short-term sel­ec­ti­ve mar­ket deve­lo­p­ment,

  • Legal­ly com­pli­ant and com­pre­hen­si­ble docu­men­ta­ti­on.

The result is a struc­tu­red and fina­li­ty-ori­en­ted liqui­da­ti­on pro­cess that crea­tes value by ope­ning up the mar­ket. For cre­di­tors, finan­ciers, funds and entre­pre­neurs, this means a clear pro­cess with a pre­dic­ta­ble time and cost frame­work — even in com­plex or time-cri­ti­cal situa­tions.

Broad ran­ge of assets — natio­nal and inter­na­tio­nal

We rea­li­ze assets and rights of all kinds, in par­ti­cu­lar com­pa­ny shares and par­ti­ci­pa­ti­ons (share auc­tions), com­pa­ny rights. Receiv­a­bles and other intan­gi­ble assets such as patents, trade­marks, licen­ses or domains and the sale of com­pa­nies. Public auc­tions are an estab­lished inter­na­tio­nal instru­ment that is easi­ly acces­si­ble to inves­tors from Ger­ma­ny, Euro­pe, the UK and the USA. Tog­e­ther with our cli­ents, we crea­te a case-spe­ci­fic auc­tion design that com­bi­nes the strengths of the auc­tion with tho­se of an M&A tran­sac­tion.

Public auc­tion or distres­sed M&A?

Our alter­na­ti­ve: hybrid M&A.

In distres­sed cases, the focus is on the legal­ly com­pli­ant, swift and final rea­liza­ti­on of pro­ceeds from col­la­te­ral. The fol­lo­wing methods can be con­side­red: public auc­tion or distres­sed M&A. Both dif­fer signi­fi­cant­ly in terms of timing, cos­ts and ear­nings risk.

At Deut­sche Pfand­ver­bin­dung, we com­bi­ne the best of both approa­ches in a hybrid M&A tran­sac­tion.

Public auc­tion: As a stan­dar­di­zed, legal­ly com­pli­ant liqui­da­ti­on pro­ce­du­re, an auc­tion is cha­rac­te­ri­zed by pre­dic­ta­ble cos­ts. The net pro­ceeds are not bur­den­ed by upstream tran­sac­tion cos­ts. Rea­liza­ti­on takes place in an open, docu­men­ted bid­ding pro­cess. The pri­ce is for­med trans­par­ent­ly through com­pe­ti­ti­on; once the bid is accept­ed, the result is final and rea­li­zed wit­hout a sepa­ra­te clo­sing risk. The cos­ts are stan­dar­di­zed and cal­culable. Cos­ts are only incur­red in the form of a publi­ca­ti­on and third-par­ty fee in the lower four-digit ran­ge and an expen­se allo­wan­ce appro­pria­te to the pro­cess. The­re are no inci­den­tal tran­sac­tion cos­ts such as ven­dor due dili­gence, data room set-up or mul­ti-level con­sul­tancy man­da­tes; the buy­er pays a stag­ge­red com­mis­si­on. The net pro­ceeds thus remain lar­ge­ly undi­mi­nis­hed.

Distres­sed M&A: Distres­sed M&A is a nego­tia­ti­on-based, mul­ti-stage tran­sac­tion pro­cess that usual­ly takes 3 to 8 months. Even befo­re a pos­si­ble clo­sing, fixed cos­ts, con­sul­tancy cos­ts and typi­cal­ly con­sidera­ble legal, finan­cial and tax cos­ts are incur­red, which redu­ce the net pro­ceeds — even if the pro­cess does not lead to a clo­sing. In the distres­sed envi­ron­ment, the clo­sing risk is increased; delays, ren­ego­tia­ti­ons or ter­mi­na­ti­ons are struc­tu­ral. This approach is par­ti­cu­lar­ly sen­si­ble when con­ti­nua­tion or syn­er­gy poten­ti­al domi­na­tes the value.

Legal basis

The gene­ral­ly publicly appoin­ted and sworn auc­tion­eer per­forms sove­reign func­tions in the pro­cee­dings with direct legal for­ma­ti­ve effect.

Mar­ket func­tion (§§ 156, 817 ff. ZPO; § 1239 BGB ana­log­ous­ly)
Fidu­cia­ry func­tion (§ 34b GewO, § 383 para. 3 BGB, §§ 156 ff. ZPO)
Valua­ti­on func­tion (§ 156 BGB, § 9 BewG, § 12 VerstV) with bin­ding effect for tax aut­ho­ri­ties
Pro­per­ty crea­ti­on func­tion — sur­ro­ga­ti­on in rem via sove­reign act (sec­tions 90, 929, 873 BGB; sec­tion 156 BGB; sec­tion 90 InsO; no appli­ca­ti­on of sec­tion 166 (1) InsO for rights; sec­tion 935 (2) BGB).

On the func­tions and signi­fi­can­ce of the publicly appoin­ted and sworn auc­tion­eer.

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Effi­ci­ent pro­ces­ses and inno­va­ti­ve solu­ti­ons

Opti­mi­zed and pro­ven pro­ces­ses deve­lo­ped by us gua­ran­tee effi­ci­ent and legal­ly com­pli­ant recy­cling — quick­ly and at short noti­ce.

We inte­gra­te AI into our pro­ces­ses.

We use legal­ly com­pli­ant, modern methods for online live auc­tions,

Vir­tu­al data room (NDA), ser­ver in Ger­ma­ny

Legal cer­tain­ty

The exclu­si­on of any war­ran­ty at the auc­tion pro­tects cre­di­tors from sub­se­quent claims.

Acqui­si­ti­on in good faith when sel­ling pled­ged pro­per­ty pro­vi­des secu­ri­ty against third-par­ty claims.

The value is irre­vo­ca­bly deter­mi­ned by a sove­reign act.

Legal­ly com­pli­ant pro­ces­sing in all pro­ce­du­ral steps.

Mar­ket exper­ti­se

Our exper­ti­se includes the ana­ly­sis of natio­nal and inter­na­tio­nal mar­kets for rights, com­pa­ny shares, patents, trade­marks and objects of all kinds.

As export mer­chants, we cor­re­spond mul­ti­l­in­gual­ly via inter­na­tio­nal sales chan­nels.

As pro­ven experts in the field, we offer a good price/performance ratio.

Net­work and cus­to­mer base

We com­bi­ne tra­di­tio­nal print com­mu­ni­ca­ti­on with inno­va­ti­ve stra­te­gies that com­bi­ne video, audio and text for­mats to reach a broad natio­nal and inter­na­tio­nal tar­get group.

Our exten­si­ve net­work, estab­lished cus­to­mer base for goods and rights of all kinds and inten­si­ve case-rela­ted rese­arch enable us to crea­te mar­kets for (new) pro­s­pec­ti­ve buy­ers at short noti­ce.

How we work with cre­di­tors

Our func­tion
We are not an enforce­ment body of the sta­te. As publicly appoin­ted, sworn auc­tion­eers, we are an organ of the admi­nis­tra­ti­on of jus­ti­ce in the rea­liza­ti­on of pled­ges. We help to sol­ve pro­blems. In doing so, we fol­low the com­mer­cial approach, becau­se the default on con­tracts almost always has com­mer­cial cau­ses. It is the­r­e­fo­re the most effec­ti­ve cour­se of action to sol­ve the pro­blem fair­ly. This results in the best pos­si­ble rea­liza­ti­on of claims for cre­di­tors and a reduc­tion in lia­bi­li­ties for deb­tors. We act inde­pendent­ly and impar­ti­al­ly. We are not a ser­vice pro­vi­der for the cre­di­tor, but an aut­ho­ri­ty sworn to inde­pen­dence in the rea­liza­ti­on pro­ce­du­re. We are cal­led in to pro­tect pro­per­ty rights, inclu­ding tho­se of the deb­tor, due to the sta­te pro­hi­bi­ting self-help.

Spe­cial exper­ti­se
Legis­la­ti­on sti­pu­la­tes that a publicly appoin­ted and sworn auc­tion­eer must have spe­cial exper­ti­se. This is unders­tood to mean abo­ve-avera­ge spe­cia­list know­ledge and exten­si­ve prac­ti­cal expe­ri­ence. An auc­tion­eer to be appoin­ted has sound legal and spe­cia­list know­ledge, many years of pro­fes­sio­nal expe­ri­ence and par­ti­cu­lar trust­wort­hi­ness and stands out from his pro­fes­sio­nal col­le­agues.

We com­bi­ne com­pre­hen­si­ve exper­ti­se with the hig­hest pro­fes­sio­nal qua­li­fi­ca­ti­ons to enforce liens in a tar­ge­ted and effi­ci­ent man­ner — with the aim of achie­ving eco­no­mic­al­ly opti­mal solu­ti­ons for both cre­di­tors and deb­tors in the short term. Our many years of expe­ri­ence enable us to pre­cis­e­ly ana­ly­ze natio­nal and inter­na­tio­nal mar­kets and deve­lop opti­mal sales oppor­tu­ni­ties for rights such as com­pa­ny shares or patents and objects of all kinds in a tar­ge­ted man­ner. Depen­ding on the task at hand, we put tog­e­ther inter­di­sci­pli­na­ry teams from our net­work to deve­lop tail­or-made solu­ti­ons. Our aim is to help cre­di­tors to enforce their claims prompt­ly and at the same time help to redu­ce deb­tors’ lia­bi­li­ties.

What we stand for

Our pro­fes­si­on in Ger­ma­ny has its ori­g­ins in the days of the Han­sea­tic League, an era cha­rac­te­ri­zed by the fun­da­men­tal values of the Han­sea­tic mer­chant. The­se values — inte­gri­ty, relia­bi­li­ty and the pur­su­it of com­mer­cial solu­ti­ons — form the foun­da­ti­on of our cor­po­ra­te cul­tu­re. For the free Han­sea­tic mer­chant, it is a mat­ter of cour­se to sol­ve pro­blems by com­mer­cial means first. We are com­mit­ted to this tra­di­ti­on. It cha­rac­te­ri­zes not only the way we work as publicly appoin­ted and sworn auc­tion­eers, but also the part­ner­ship-based coope­ra­ti­on with our cli­ents.

Empa­thy
The rea­liza­ti­on of claims due to liens is often an unu­su­al and stressful situa­ti­on for cre­di­tors and deb­tors. For us, howe­ver, the rea­liza­ti­on of liens is part of our dai­ly prac­ti­ce. We do not see our­sel­ves as an enforce­ment body, but as a part­ner who respectful­ly con­siders the inte­rests of both sides.

We address the under­ly­ing pro­blems with empa­thy and deve­lop indi­vi­du­al, tail­or-made solu­ti­ons. Tole­rance and respect form the basis of our actions. By put­ting our­sel­ves in the shoes of ever­yo­ne invol­ved, we crea­te a frame­work in which demands can be balan­ced respon­si­bly and out­stan­ding lia­bi­li­ties can be redu­ced — always in a spi­rit of mutu­al app­re­cia­ti­on.

In some cases, we encoun­ter dif­fi­cult deb­tors who behave obs­truc­tively and irra­tio­nal­ly, often acting against their own inte­rests. Our many years of expe­ri­ence enable us to de-esca­la­te such situa­tions pro­fes­sio­nal­ly and bring com­mu­ni­ca­ti­on from an emo­tio­nal­ly aggres­si­ve to a fac­tu­al level.

In most cases, the legi­ti­ma­cy of the claims is bey­ond ques­ti­on. Nevert­hel­ess, attempts are often made to pre­vent the public auc­tion by loo­king for for­mal errors. Our top prio­ri­ty is the­r­e­fo­re com­ple­te and pre­cise com­pli­ance with all legal requi­re­ments.

Entre­pre­neu­ri­al spi­rit

We under­stand the chal­lenges of entre­pre­neu­ri­al acti­vi­ty and know what makes com­pa­nies suc­cessful. For us, being an entre­pre­neur also means taking respon­si­bi­li­ty — for decis­i­ons, solu­ti­ons and their con­se­quen­ces.
With this under­stan­ding, we deve­lop inno­va­ti­ve and sus­tainable stra­te­gies to enable cre­di­tors to rea­li­ze their claims quick­ly and effi­ci­ent­ly. Our approach com­bi­nes fore­sight with prag­ma­tism and aims to shape eco­no­mic inte­rests in a respon­si­ble and future-ori­en­ted man­ner.

Excel­lence

Excel­lence and inno­va­ti­on — for suc­cess at the hig­hest level: We stand for out­stan­ding results and set stan­dards for mea­sura­ble and sus­tainable suc­cess. Our com­mit­ment to excel­lence shapes ever­y­thing we do, from stra­te­gic plan­ning to working with cre­di­tors and deb­tors.
We always aim to achie­ve the best — through pre­cis­i­on, com­mit­ment and a con­sis­tent focus on the hig­hest stan­dards. For us, excel­lence is not just a cla­im, but our pro­mi­se.

If you are affec­ted by a cla­im.

The “one-size-fits-all” approach is often not expe­di­ent when rea­li­zing receiv­a­bles through con­trac­tu­al or sta­tu­to­ry liens. Each case requi­res an indi­vi­du­al approach and tail­or-made solu­ti­ons.

We offer you the oppor­tu­ni­ty to dis­cuss your case with us in an initi­al free 30-minu­te online mee­ting. Sim­ply sel­ect one of the available Teams mee­ting dates. We will send you rele­vant infor­ma­ti­on in advan­ce to help you prepa­re for the mee­ting.

Tog­e­ther we will ana­ly­ze your situa­ti­on and cla­ri­fy whe­ther a col­la­bo­ra­ti­on makes sen­se.

We look for­ward to hea­ring from you > cont­act us.

If the rea­liza­ti­on of col­la­te­ral
is time-cri­ti­cal and con­fi­den­ti­al:
Cont­act us.