The government is disagreeing over whether the Federal Industry-Holding Stock Corporation (ÖIAG) should get involved in the handling of a major bankruptcy to save jobs. Social Democratic (SPÖ) General Secretary Günther Kräuter suggested yesterday (Sun) ÖIAG should be used as an “active industrial-political instrument” after it became clear on Friday that plans to carry out […]
Tag: insolvency
Job concerns as wood firm goes bust
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Dozens of employees fear losing their jobs as a Carinthian wood industry business filed for bankruptcy.St. Veit an der Glan-based Vito asked a court in Klagenfurt to start controlled insolvency procedures today (Tues), according to the Creditors Protection Association of 1870 (KSV). KSV said Vitos debts range around 5.2 million Euros. The association also announced […]
More building sector businesses go bust
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The number of construction industry companies opting for controlled insolvency is on the rise, figures presented today (Tues) show.The Austrian Creditors Protection Association of 1870 (KSV 1870) said 204 building firms went bust in the first three months of this year, around 31 per cent more than in the same time span of 2010.Only some […]
Upper Austrian haulier goes bust
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A shipping company founded only three years ago has filed for bankruptcy.The Creditors Protection Association (KSV 1870) said today (Weds) Parzermair RFE – Sondertransport und Logistik GmbH (Parzermair) had debts of around 4.3 million Euros. KSV 1870 added that the haulier, which is based in Schwanenstadt in Upper Austrias Vöcklabruck district, currently employed 35 staff. […]
AZ Bau goes bust
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A Carinthian construction company has filed for bankruptcy.Twenty-one employees and almost 200 creditors will be affected by the insolvency of AZ Bau. The Villach-based firm said today (Fri) it had assets of 1.3 million Euros, adding that its liabilities were 3.17 million Euros.The Creditors Protection Association (KSV 1870) said the plan was to find a […]
AE&E follows A-Tec into bankruptcy
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Austrian Energy & Environment (AE&E) has filed for bankruptcy just weeks after its owner A-Tec Industries AG (A-Tec) was forced to open insolvency procedures.A-Tec said it failed to find an investor for AE&E, which is its biggest subsidiary. The firm held takeover talks with Styrian company Andritz, Austrian businessman Ronald Pecik and a string of […]