IDAGIO GmbH, the Berlin-based streaming service for classical music, has successfully completed its self-administered insolvency proceedings after approximately four months.

Per an official press release, the Berlin Charlottenburg Court will lift the proceedings following unanimous creditor approval of the company’s insolvency plan, ensuring the continuation of IDAGIO’s platform and the preservation of all jobs.

Managing Director Erwin Stürzer, who led the process, was supported by attorney Olaf Schubert and restructuring specialist Dr. Christian Matiebel. The court appointed Dr. Sven Kirchner of Münzel & Böhm as insolvency monitor.

“All parties involved expressed clear support for the business model and made its continuation possible,” said Stürzer in the press release. “IDAGIO GmbH can now move forward strengthened by a new shareholder.”

Business operations continued without interruption throughout the restructuring period. Furthermore, operational restructuring was followed by financial reorganization under the approved insolvency plan.

Berlin-based music entrepreneur Ki Soo Lee and Singaporean business partner Jim Chang will assume ownership of IDAGIO.

IDAGIO founder Til Janczukowicz is no longer part of the company.

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