Key divisions of Germany's Das Werk post-production group have begun filing for insolvency, three weeks after their parent company began insolvency proceedings (, Nov 7).

Das Werk post-production companies at Berlin's Potsdamer Platz, Duesseldorf, Frankfurt, Hamburg, Ludwigsburg and Munich as well as Hamburg-based Magic Video have each filed for insolvency. The move came after German banks stopped providing them with fresh capital.

"Through the insolvency proceedings the way is free for a new structuring of the postproduction group within the parameters of the insolvency law," Das Werk said in a statement.

Das Werk is the latest in a line of high profile German companies to file for insolvency, including Helkon International Production and peppermint from the Helkon Media Group

Karl-Heinz Trebing of the Frankfurt legal practice Reuss & Partner has been appointed as the temporary insolvency administrator, with Dr. Holger Lessing, who is already administering the holding company's insolvency, serving as the spokesman for the administrators.

Das Werk's management stressed that there would not be any changes for the group's clients as the wages of the post facilities' staff would now be guaranteed by financing made available by the insolvency administrator and their subsidiaries' suppliers would receive payment.

'Over the next few months it will be a question now of finding investors for the group", the statement added.

At the same time, it was stressed that Frankfurt-based Zweig Werk as well as Zweig Werk in Hamburg, the Das Werk postproduction company located in Berlin's Novalisstrasse, and the group's film production companies such as Road Movies Filmproduktion had not filed for insolvency and would "continue working as before."