KTM factory in Mattighofen: 300 jobs away, millions for workforce!

KTM factory in Mattighofen: 300 jobs away, millions for workforce!

After registering for claims by the insolvency law department of the Chamber of Labor in Upper Austria in mid-December, all the necessary formalities are now completed. A total of 20 million euros will be transferred to the employees of the insolvent company KTM in Mattighofen, as reported . The money comes from the insolvency fee fund and is expected to arrive at the accounts of all employees by next Monday. For some of them, however, this could be the last regular payment, since 250 dismissals were issued at the beginning of December and another 300 employees are to be released by January 17th.

The situation is serious: production at KTM has been resting since mid -December to reduce the high inventory. According to the Finance magazine , the production break, which was originally planned by the end of February, could extend itself by another month. Those affected are before uncertain times, while the number of employees drops drastically.

consequences of the bankruptcy and exemption from residual debt

In addition, there is essential information on the exemption from residual debt in the context of bankruptcy. After the expiry of six years from the opening of the insolvency proceedings, the assignment period ends. The remaining debt exemption is usually issued on the last date of the proceedings, but is only legally binding if the debtor has received the decision and does not comply with a complaint within two weeks. This can take months as is stipulated in the legal regulations. The assignment period according to Section 287 (2) of the Insolvency Code (InsO) represents the maximum duration of the attachment. These aspects once again illustrate the complexity, the background and the difficulties with which those who are involved in insolvency proceedings are confronted.