Common belief that the economic downturn is to blame for most bankruptcies has been debunked by an insolvency expert.The Creditors Protection Association of 1870 (KSV) announced today (Thurs) that only 19 per cent of all of last years 6,376 business bankruptcies had firm-external and crisis-related grounds.The organisation claimed 44 per cent of all of the […]
Tag: bankruptcies
The number of bankruptcies declined by nearly six per cent year on year in 2010, it has been announced.Creditreform, an Austrian association for the protection of creditors, said today (Mon) that officials handled 6,657 cases of broke companies last year. It said this was a 5.9 per cent decrease compared to 2009 figures. Creditreform added […]
Upper Austrian industrial firm goes bust
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Upper Austrian firm Franz Hittmayr GmbH has filed for bankruptcy, it has emerged.The Alpine Creditors Association (AKV) said today (Thurs) judges at the provincial court in Wels have started dealing with the Redlham-based industrial companys situation.The body said Franz Hittmayr GmbH had debts of more than 3.9 million Euros. It added the plan was to […]
All 45 jobs at a bankrupt Salzburg wood firm are safe, it emerged today (Weds).Liquidator Konrad Ferner said he told the 45 Salzburger Holzindustrie employees yesterday that they will all keep their jobs after he managed to find an investor willing to take over the broke company.Ferner said the Carinthian wood-processing firm Johann Weinberger won […]
EN-TECH goes bust
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Carinthian energy technology firm EN-TECH filed for bankruptcy at the regional court of Klagenfurt today (Mon).The Creditors Protection Association of 1870 (KSV 1870) announced the company which is headquartered in St. Veit an der Glan had debts of 1.79 million Euros. Thirteen employees and 120 creditors are affected.EN-TECH bosses said business suffered after […]