Insolvencies

Tax Payers to Finance AvW Bankruptcy after all?

Tax payers may have to finance the bankruptcy of Carinthian financial company AvW after all, Presse daily reports in its online issue. The damage is estimated at EUR 148 million (USD 168.2 million).

June 8, 2016

A-Tec Winding Up Completed

Matthias Schmidt, the bankruptcy trustee of industrial conglomerate A-Tec of industrialist Mirko Kovats, has completed the winding up of the company that went bankrupt five years ago. The final payment of 4.44 percent or EUR 17.55 million is to be made by the end of the year.

December 22, 2015

Insolvent DIY Chain BauMax Ended Its Operations

Insolvent DIY chain BauMax ended its operations completely on Friday with many stores sold to Obi of Germany. Seven stores did not attract a buyer. Some 700 employees in total are at risk of losing their jobs.

October 30, 2015

New Owners for Lower-Austrian Facilities Builder FMW

Lower Austrian facilities builder FMW, which filed for bankruptcy a few weeks ago, has new owners. Cornelius Grupp, owner of CAG Holding GmbH, and investor Matthias Calice have taken over the business with 68 employees in course of a restructuring procedure.

November 11, 2014

Austria: Creditors of DiTech Faced With Total Losses

The Austrian computer equipment retailer has filed for insolvency proceedings at the end of March.

May 12, 2014 · Updated: May 13, 2014; 10:55

Hypo Group: Spindelegger Still Rejects Investigation Committee

Today the opposition will call for a joint request for a parliamentary investigation committee with regard to ailing bank Hypo Group.

March 25, 2014

Austria: Opposition Criticizes Nationalization

On Thursday Finance Minister Michael Spindelegger expects a binding statement by ailing bank Hypo Group Alpe Adria about how much state aid will be required. The opposition heavily criticizes the nationalization by the Austrian state in 2009.

March 20, 2014

Serbia: Vucic Stands Good Chances of Becoming PM

Vucic is regarded new Serbian Prime Minister in the parliamentary elections.

March 15, 2014

DiTech: Insolvency Postponed

Heavily affected computer equipement trader DiTech has to postpone filing for insolvency proceedings, which was planned today at the Commercial Court in Vienna.

March 14, 2014

Austria: IV Welcomes Government‘s Decision on Hypo

According to Kapsch, president of IV, Hypo Group’s insolvency would have meant uncertainty and damages to the reputation of the business location Austria.

March 14, 2014
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