On October 7, 2024, a used industrial gas turbine in asembled condition from the manufacturer General Electric will be sold at lien auction by Deutsche Pfandverwertung due to a legally agreed lien.
The engine to auction is a used industrial gas turbine (IGT) manufactured by General Electric (GE), type LM2500+ (model number: 7LM2500-PC-MDWG02; serial number: 679-107).
Following an extensive engine failure in 2018, the LM2500+ was promptly transported to the lienor for disassembly into its constituent parts.
After a thorough examination of the individual components, it was determined that the project had surpassed the point of being economically viable for repair (Beyond Economical Repair, BER). Consequently, the project was discontinued, and the remaining piece parts are being securely stored by the lienor since 2018.
Reference is hereby made to the incoming inspection report (pdf.-file „679-107“) and to the complete list of piece parts (excel sheet „MDP_L08548_Teileliste#2“) as well as the following explanation to the list of piece parts:
– „Missing“
Parts that were not delivered.
– „Serv./Unbef.“
Serviceable parts.
– „Repair“
Repair was considered initially. Parts have not been marked as scrap yet. It remains uncertain whether a repair is possible and to which costs it would amount.
– „Scrap“
Scrap parts which cannot be repaired.
The item of this auction is subject to current export control laws of the European Union (EU) and the United States of America, including but not limited to measures against the Russian Federation and Belarus, and classified as Export Control Classification Number (ECCN) 9A991. Interested parties and bidder are obliged to:
– (i) comply with the requirements of Council Regulation (EU) No 833/2014 of 31 July 2014 and (EU) No 765/2006 of 16 May 2006 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine, as amended from time to time (the „Regulation“) regardless of whether the bidder is within the jurisdiction of the European Union; and
– (ii) not (re-) export goods and technology provided to bidder which are subject to the Regulation, to any natural or legal person, entity or body in the Russian Federation or Belarus or for use in the Russian Federation or Belarus.
Breach of any of these obligations by bidder shall be considered an irreparable material breach and shall (a) entitle the lienor, notwithstanding any other rights or remedies it may have under contract or by law, to terminate the contract or suspend its obligations under the contract immediately without compensation or any other liability to bidder and (b) require the bidder to mitigate associated adverse effects and damages. Where lienor becomes aware of such breach, it will report such incident to the competent authority within the EU.
In addition, lienor and bidder shall comply with all applicable export control laws, regulations or ordinances, trade or financial sanctions and embargoes in effect in or which are or may be imposed by the European Union (EU), Germany, the United Nations (UN), the United States of America (U.S.A.) and any country within whose jurisdiction the lienor or the bidder operate or do business (the „Export Control Regulations“). The lienor“s performance hereunder is subject to the Export Control Regulations and lienor shall, without any liability to the bidder, be released from its contractual obligations if the Export Control Regulations are in conflict with or prohibit performance of such obligations. Upon registration for the auction, the bidder must provide any information, documentation and appropriate certifications (e.g. an end user certificate) reasonably requested by the lienor in support of compliance activities or permit applications. If participation in the auction and/or the purchase of this item by auction would violate the Regulation and/or the Export Control Regulations, the potential bidder must not register for and/or participate in the auction. The bidder shall bear its own costs (if any) in respect of any of its obligations pertaining to its compliance with the Export Control Regulations, including the application for, maintenance or renewal of export licenses.
Bids are accepted as online bids, by telephone, or in writing. The auction is conducted online via live broadcast through the digital platform of Deutsche Pfandverwertung Ostermayer & Dr. Gold GbR, Bierhäuslweg 9, 83602 Dietramszell, starting at 2:00 p.m. by the publicly appointed and sworn auctioneer, Mr. F. Eberhard Ostermayer, and is only valid with immediate bank transfer.
Bids must be submitted in accordance with the auction terms and conditions. The auction terms and conditions are available at www.deutsche-pfandverwertung.de Inspection of the documents for the industrial turbine to be auctioned is carried out through the virtual data room on the Deutsche Pfandverwertung website after submitting a confidentiality agreement (NDA). Timely registration and signing of export control declarations at least 48 hours before the auction date are required for participation in the auction. The information and conditions are published under „Versteigerungstermine“ (Auction Dates) at www.deutsche-pfandverwertung.de
English translation of all documents, information about the auction as well as condition for participation at this auction will be forwarded upon request.
Inquiries should be directed to Mr. F. Eberhard Ostermayer: DEUTSCHE PFANDVERWERTUNG Ostermayer & Dr. Gold GbR, Bierhaeuslweg 9, D-83623 Dietramszell, Tel. 08027 – 908 9928, E-Mail: office@deutsche-pfandverwertung.de.
DEUTSCHE PFANDVERWERTUNG Ostermayer & Dr. Gold GbR is a specialized German auctioneer for the enforcement of contractual and statutory lien rights for all types of property and rights, such as company shares, securities, or patents, operating nationwide, even in cases with international connections. The company is run by publicly appointed, sworn auctioneers, who are legally authorized to conduct public auctions. DEUTSCHE PFANDVERWERTUNG offers a simple and quick alternative for the realization of claims through the enforcement of lien rights of all kinds. In the process, we also acquire internationally to reach the largest possible pool of buyers. Our clients include financial institutions, entrepreneurs, public authorities, insolvency administrators, lawyers, real estate companies, freight forwarders, logistics companies, businesses, heirs, and private individuals.
We are a founding member of the BvV e.V. – Federal Association of Publicly Appointed, Sworn, and Particularly Qualified Auctioneers, Berlin.
Company-Contact
Deutsche Pfandverwertung Ostermayer & Dr. Gold GbR
Eberhard Ostermayer
Bierhäuslweg 9
83623 Diettamszell
Phone: 08027 9089928
E-Mail: 
Url: http://www.deutsche-pfandverwertung.de
Press
Deutsche Pfandverwertung Ostermayer & dr. Gold GbR
Eberhard Ostermayer
Bierhäuslweg 9
83623 Diettamszell
Phone: 08027 9089928
E-Mail: 
Url: http://www.deutsche-pfandverwertung.de
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