Millions of the Bregenz financial advisor: bankruptcy in sight!

Millions of the Bregenz financial advisor: bankruptcy in sight!

Hohenweiler, Österreich - A financial advisor from Bregenz, Ludwig Greisel (born 1965), got into bankruptcy in early 2025. The renovation plan for its one-person company was accepted at the Feldkirch Regional Court. The bankruptcy proceedings, which was opened in January 2025, follow an application from the tax office and has recognized claims of 4.2 million euros. At the opening of the procedure, however, liabilities of around 1.1 million euros were initially given.

In order to meet the more common demands, several properties are sold. This includes a single -family house in Hohenweiler, which has a wellness area with indoor pool and sauna. However, this house is burdened with several lien from a Vorarlberger Bank. Other properties to be sold are a condominium in Oberreute (Germany) and an undeveloped property in Vogt (Germany). Of the 16 affected creditors, almost 420,000 euros of the claims belong to the tax office, while a foreign bank is considered the main creditor. Interestingly, no employees are affected by the bankruptcy proceedings.

insolvency plan and its advantages

The insolvency plan procedure offers a possibility to make a quick debt within 4 to 12 months. The one -time payment of a donor makes it possible to pay off debts regardless of the actual status. This is usually a prerequisite for initiating the procedure. The bankruptcy plan, which the creditors then have to agree to, is intensively prepared in advance and includes detailed information about the situation of the debtor, the amount of the one -off payment and possible comparisons with other procedures, such as from the information from Advocado .

The advantages of this procedure are complex. One of the main strengths is the prevention of a possible application for bankruptcy by the creditors, which saves additional legal steps. In addition, insolvency creditors can no longer enforce open claims, which reduces the pressure on the debtor. In addition to the duration and the lower procedural costs, the deletion of Schufa entries three years after the procedure has been completed is a positive aspect.

challenges in the crisis

causes of the corporate crisis can be varied, including changes in the market environment or incorrect entrepreneurial decisions. According to PwC Legal , quick reactions of those responsible and the provision of special knowledge are crucial for coping with the crisis and the continued existence of the company. Modern bankruptcy law has the goal of not only liquidating companies, but also being renovated and maintaining jobs. This is also reflected in the current case of Ludwig Greisel, who has come into financial difficulties, but could come back on the right track through a structured bankruptcy plan.