Insolvency proceedings for metal technology company from St. Stefan open

Insolvency proceedings for metal technology company from St. Stefan open

In Klagenfurt, the regional court opened a bankruptcy proceedings through ESS GmbH, a company that was founded in the field of metal technology at the end of 2021. The company with managing director Damir Salihovic, based in St. Stefan, was mainly active for applying for work and rely on subcontractors when executing. However, extensive payments failed to do so due to considerable defects in the order execution, which strongly burdened the financial stability of the company.

The situation escalated when a significant order of over 125,000 euros from Germany was not paid due to poor benefits. In addition, there was another order in Völkermarkt to build a production hall that had a value of 450,000 euros. The payment was also not made here due to quality defects. These defaults on payment led to an enormous financial burden, in particular with regard to sales tax obligations that the company could not cover. The Austria tax office is one of the main believers in this procedure.

insolvency details and creditor protection

A total of 36 creditors and an employee are affected by bankruptcy. The company's liabilities amount to around 369,500 euros, while the assets are only 260,500 euros. This leads to an over -indebtedness of around 109,000 euros. Herbert Juri, a lawyer from Wolfsberg, was appointed as the insolvency administrator. The operation of ESS GmbH is already closed, and the first creditor meeting and the examination statute are planned for January 21 at the State Court of Klagenfurt.

The opening of the bankruptcy proceedings emphasizes the challenges with which newly founded companies can be confronted, especially if the order performance does not meet expectations and financial obligations are thus endangered. In this case, developments in this case require careful observation because they could have an impact on the parties concerned, while the legal steps to dissolve the society were initiated.