Three German shipping container investment firms filed an application for insolvency at a Munich court that local media said could put 3.5 billion euros (USD 4.3 billion) at risk.

P&R Container Vertriebs- und Verwaltungs-GmbH, P&R Gebrauchtcontainer Vertriebs- und Verwaltungs-GmbH and P&R Container Leasing GmbH filed the application on March 15, the companies said in a statement late on Monday. P&R Transport- Container GmbH and the other companies of P&R Group have not filed for insolvency, they added.