Business risk in Feldkirch: 61 employees before an uncertain future!

Business risk in Feldkirch: 61 employees before an uncertain future!

A large company fate takes its course: the company Volta based in Feldkirch has registered bankruptcy. According to vorarlberg.orf.at 61 employees and about a hundred creditors are affected. The procedure was initiated on the basis of the tense economic situation at the responsible authority, the Feldkirch Regional Court. Essential factors for the setback were increasing production costs, material prices and personnel costs. The first examination conferences are already scheduled for March 20, while the exact amount of the assets remains unclear.

like reutlaw.com , companies are legally obliged to report bankruptcy in the event of over-indebtedness. This not only means the end for Volta, but also affects the creditors who now have to register their claims. After the opening of the procedure, the competent competition will evaluate the existing assets and decide whether the procedure can be continued or set. In most cases, there is a public request to the creditors to submit their claims, which are then treated according to priority. Employee claims are first served, followed by a decent distribution of the remaining means.

The next steps in the bankruptcy procedure

The further procedure will be crucial to minimize the economic damage. If the bankruptcy proceedings are continued, the creditors have different options available to pursue their claims. In more complex cases, additional procedural steps and creditors are added, which means that the creditors are more active in the procedure. At the end of the procedure, if the company no longer exists, creditors only receive a loss certificate with unsatisfied claims, while natural persons can be operated again in the future if they acquire new assets.