Insolvency of the last wine press manufacturer: creditor against an uncertain future!

Insolvency of the last wine press manufacturer: creditor against an uncertain future!

At the center of current reporting is the bankruptcy of a traditional company that is the only wine press producer in Austria. Since its foundation in 1923, the company has taken a unique position in the industry. Unfortunately, in December 2024 a renovation process without self -administration was opened, which led the company into a serious financial crisis. The background is the registration of 98 creditors with claims, of which almost five million euros were recognized, as noe.orf.at . The creditor protectors announced an insolvency rate of 20 percent, which is to be paid out in five installments. By April 30, 2025, six percent of the claims must be deposited with the insolvency administrator.

The bankruptcy rate is a central topic that regulates the repayment of claims in the bankruptcy proceedings. Definitions and calculation bases show that insolvency creditors usually only receive a fraction of their demands. According to Schuldnerberatung.de , the average repayment share in Germany for corporate insolvencies is just 6.1 percent. This means that creditors often have to consider 90 percent or more of their claims than lost. The upcoming quota for the wine press producer is to be realized by working with investors and the continuation of the company, which arouses hope of a better quota.

In addition, it is important to mention that the distribution of the bankruptcy estate - i.e. the assets generated from the company's handling - happens in a defined sequence. This arranges which creditors are served first, and thus gives an idea of how much every creditor is expected to retain from his claim. While the defined quota and the survival ability of the company have a strong influence on both managing directors and creditors, it remains to be seen how effective the measures for renovation will be and whether complete processing can be avoided.