Bankruptcy of the Bregenz financial advisor worth millions: bankruptcy in sight!

Bankruptcy of the Bregenz financial advisor worth millions: bankruptcy in sight!

A financial advisor from Bregenz, Ludwig Greisel (born in 1965), went bankrupt at the beginning of 2025. The restructuring plan for his one-person company was accepted at the Feldkirch regional court. The insolvency proceedings, which were opened in January 2025, follow an application from the tax office and have recognized claims of 4.2 million euros. However, when the proceedings were opened, liabilities of around 1.1 million euros were initially stated.

In order to cover the increasing claims, several properties are sold. This includes a single-family home in Hohenweiler that has a wellness area with an indoor pool and sauna. However, this house is encumbered with several liens from a Vorarlberg bank. Other properties for sale include a condominium in Oberreute (Germany) and an undeveloped plot of land 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 insolvency proceedings.

Bankruptcy plan and its benefits

The insolvency plan procedure offers an opportunity for quick debt relief within 4 to 12 months. A one-off payment from a lender makes it possible to pay off debts regardless of the actual status. This is usually a prerequisite for initiating the procedure. The insolvency plan, which the creditors must then agree to, is intensively prepared in advance and includes detailed information about the debtor's situation, the amount of the one-off payment and possible comparisons with other procedures, as can be seen from the information from Avocado emerges.

The advantages of this procedure are complex. One of the main strengths is the prevention of a possible bankruptcy filing by creditors, which saves additional legal steps. In addition, insolvency creditors are no longer allowed to enforce outstanding claims, which reduces the pressure on the debtor. In addition to the duration and the lower costs of the procedure, the deletion of Schufa entries three years after completion of the procedure is also a positive aspect.

Challenges in the crisis

There can be many reasons for a corporate crisis, including changes in the market environment or incorrect business decisions. Loud PwC Legal Quick reactions by those responsible and the provision of specialist knowledge are crucial for overcoming the crisis and the continued existence of the company. Modern insolvency law aims not only to liquidate companies, but also to restructure them and preserve jobs. This is also reflected in the current case of Ludwig Greisel, who got into financial difficulties but could get back on the right track through a structured insolvency plan.

In summary, it can be said that the restructuring options for Ludwig Greisel and his companies through the adopted insolvency plan are aimed at more than just covering debts. They also offer the opportunity to stabilize the company in the long term and to make a new economic start.