Overview

• Michael Jaffé, the insolvency administrator, has announced a €122 million distribution to defrauded P&R investors, bringing total recoveries to €666 million.
• The recovery rate now exceeds 20% of the €3 billion in claims, a notable achievement for insolvency proceedings of this scale.
• P&R’s bankruptcy in 2018 revealed a massive container sales fraud, with only 618,000 of the purported 1.6 million containers actually existing.
• Rising sea freight prices during the COVID-19 pandemic significantly boosted recovery efforts, enhancing the value of container sales and rentals.
• Jaffé continues to operate the container leasing business and plans further payouts, though no specific timeline has been disclosed.