TERRAGON-Group: Dr Oliver Damerius oversees TERRAGON Group restructure
TERRAGON was a nationwide project developer and market leader in the “senior housing” segment with a project volume of around EUR 800 million. Following the implementation of extrajudicial measures against TERRAGON AG and its main subsidiaries, BBL partner Dr Oliver Damerius initiated restructuring during insolvency proceedings.
Measures to stabilize the group have now been implemented as a first step, however, the challenging situation in the construction industry and the company’s own difficult position continue to severely impact project sales and company financing. In view of the explosive rise in construction costs, potential buyers for future projects expect a high degree of funding security in order to complete those projects, which the TERRAGON Group has this far been unable to provide.