Machold Rare Violins

Machold Rare Violins, domiciled in Bremen, was the global market leader in the historic string instruments trade. The company was established in 1861 in Markneukirchen as a violin manufacturer. The owner was Dietmar Harry Joachim Machold, born in 1949 and resident at Schloss Eichbüchl bei Katzelsdorf. Machold had branch establishments in Vienna, Zurich (Geigenbau Machold GmbH and Cadenza AG), Alpnach (Bomalu AG), Bremen, Berlin, New York City, Aspen, Chicago, Seoul and Tokyo, buying and selling, among others, Stradivari and del Gesù violins. In 2001, Machold Rare Violins sold a violin built by del Gesù for 1.6 million US-Dollars to a group of sixteen investors. In the spring of 2007, Machold obtained a price of more than 10 million Euros for four Stradivari violins.

Insolvency proceedings

Personal bankruptcy

On October 22, 2010, Dietmar Machold initiated a restructuring proceeding with self-administration with regard to his private assets. On December 1, 2010, the court revoked his right to self-administer his assets. On December 29, 2010, the court appointed a committee of creditors and the proceedings were altered to include insolvency proceedings. The business was ordered to be closed down on February 4, 2011.

Company insolvency

On October 29, 2010, Dietmar Machold initiated a restructuring proceeding with self-administration with regard to his company assets. For this, the court revoked his right to self-administer his assets on November 23, 2010. The company was ordered to be closed down on December 21, 2010 and the proceedings were altered to include insolvency proceedings.

Arrest

Dietmar Machold was arrested in Switzerland in March 2011. He was accused of embezzlement and grand commercial fraud, among other things. A further reason for his arrest is the fact that Machold has settled in Switzerland instead of remaining in Austria.[1]

References

  1. ↑ http://www.stringsmagazine.com/News/More/Machold-Behind-Bars Strings Magazine Shrader, Erin, July 2011, "Machold Behind Bars."
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.