Insolvency in Austria: Correspondence protection ensures company rescue!

Insolvency in Austria: Correspondence protection ensures company rescue!

The economic situation of numerous companies in Austria has deteriorated dramatically, and the recent insolvency cases throw a bright light on the difficult situation. The BKG, which offers municipal services and street maintenance, among other things, is faced with over -indebtedness of 1.74 million euros. Your renovation plan provides quotas of 20 percent. The difficulties result from a massive break -in in the construction industry in 2023 and additional financial burdens, such as the total damage of a sweeper and the termination of your loan frame by the house bank, such as ORF Carinthia reported.

Another example is the Agri-Tec, the financial problems of which are also serious in nature. With an over -indebtedness of 1.24 million euros and only ten employees, the drastic deterioration of the business situation is cited as the main cause, coupled with enormous cost increases when purchasing merchandise and spare parts. These developments make it clear how companies in Austria suffer from increasing financing costs. In addition, bankruptcy proceedings via Michael Oberekar, a transport company, were opened in Magdalensberg on Friday. The amount of the liabilities remains unclear, which further increases the uncertainty.

creditor protection and renovation efforts

In the middle of these bankruptcies, the loan protection associations such as the KSV1870 offer support and negotiate even before the judicial votes with debtors about renovation plans. In many cases, this structured approach makes it easier to improve the payment and renovation plans offered significantly, which leads to better odds for all creditors. This underlines the role of the KSV1870 as a mandatar of the domestic economy, which contributes to the fact that a third of the companies concerned survives their bankruptcy and thus continues to ensure jobs, as KSV1870 . In Austria, the protection of creditors in Austria becomes a key for companies that have hope for an early renovation by focusing on the interests of the creditors.