Desire and reality

The flowers and plants of the state horticultural show have found good fertile soil on erba island in bamberg – but odors also thrive here quite well. Hardly any real estate project in bamberg has aroused as much public interest as the expensive residential complexes within sight of the artistic stream running through the showcase grounds. As it now turns out, some speculations are well founded.

The insula gmbh, one of the most important developers on the island and a shining pioneer in the realization of the "wasserhauser", financial problems have been rumored before. Already in 2012, the stagnant construction progress on the unusually expensive apartments for bamberg made people wonder. But the irish-german investment community denied.

Today the insula gmbh seems to be at its end. This can be read from a document with file number "36i IN 2596/18" of the district court of charlottenburg: the application of a creditor for the opening of insolvency proceedings was rejected in mid-december "for lack of assets". A regular insolvency is therefore not possible. "The legal rejection of an application for insolvency of the assets of a legal entity, such as a stock corporation or a limited liability company, for lack of assets is a fact to be entered in the commercial register and leads to the dissolution of the company", explains thomas heymann, press spokesman for the berlin civil courts in general terms. However, company sources say that the last word has not yet been spoken.

This (final) act in the insula drama is currently playing out in the capital city. What impact will it have on the island in bamberg??

Anyone who reads into the creation of the apartments and their distribution quickly becomes entangled in a dense and opaque web of companies and subcontractors, new foundations and renamings. Apart from the question of what can be deduced from this for the german construction industry, it becomes apparent that the (supposed) end of insula gmbh on the bamberg island has caused hardly any problems, but plenty of speculation.

This becomes clear in krackhardtstrabe 6 to 6c. Construction work on the last unfinished apartments on the island is stalling. The customs had intervened, the sparrows whistled from the unfinished rooftops. Illegal moonlighting?

There is no truth in the rumor, denies stefan schramm, press spokesman at the main customs office in schweinfurt: "in recent times, no checks have been carried out by officials of the main customs office in schweinfurt (financial control of illegal employment) in this area."

Another rumor: the bankruptcy of insula gmbh has led to a construction stop. "True also not", assures andreas bauch, managing director of the developer, bayerische landessiedlung, which bauch likes to emphasize already has over a hundred years of company history under its belt. The traditional company is responsible for the planning of krackhardtstrabe 6, 6a, 6b and 6c through its wholly owned subsidiary wohnbau alte spinnerei gmbh. 84 apartments are to be built here. All already sold.

Are there problems? The construction site is still running, but there are delays, admits bauch. "Two months ago, we informed the shell construction company." The work is not on schedule and "not in the way and good" had been done, as demanded. Some deficiencies had to be eliminated. Current state of affairs: "all trades are working." He has also heard of the rumors and is happy to be able to clear them publicly, says the manager and assures: "the dates for completion between september and december of this year will not change." Bauch schwarmt: "the erba-island is a special building project and in its micro-location something very special."

However, according to bauch, there are problems with the completion of the straben. Delays. The development of the entire area was carried out under the leadership of the project contractor. So the insula gmbh?

The city of bamberg reassures: "the city of bamberg has no contractual relationships with insula gmbh", explains press spokeswoman ulrike siebenhaar. The city’s contractual partner is therefore erba projektentwicklungs gmbh& vermogensverwaltungs ohg, berlin. There are personnel overlaps, but: "the company is not affected by the insolvency. In addition, the city has security in the form of sureties and deposited funds." Electricity, water and gas are already laid, only the final trenching is still pending. If a bankruptcy intervened here, the city could take the remaining work into its own hands with the deposited money.

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