Private businesses have higher payment morale than public institutions, research has shown. KSV 1870 (KSV), a federal association for the protection of creditors, said yesterday (Thurs) debtors in Austria paid up after an average 30 days. The organisation – which investigated payment statistics in June – explained it took 38 days until public institutions like […]
Tag: KSV
The Austrian economy seems to reassert itself, new figures presented by a creditors’ protection organisation show. The Creditors’ Protection Association of 1870 (KSV) said today (Weds) that 1,672 companies declared bankruptcy in the first half of this year. This is a three per cent decrease compared to the first six months of 2010, according to […]
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 […]
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 […]
An Upper Austrian producer of solar collectors has gone bust, it emerged today (Mon).The Austrian Creditors Protection Association (KSV 1870) said Eberstalzell-based Xolar had debts of nearly four million Euros. KSV 1870 added that 74 employees and 100 creditors were affected.Xolar was taken over by Upper Austrian Greiner Group (Greiner Technology & Innovation, GTI) last […]
A-Tec flogs German affiliated firm
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Struggling A-Tec Industries AG (A-Tec) has sold another subsidiary company as it tries to get back on track.The company, which opted for controlled bankruptcy last October, announced today (Mon) that it decided to sell Dörries Scharmann Technologie GmbH (Dörries Scharmann) to internationally operating technology company StarragHeckert.Reports have it that the Swiss company is ready to […]
Vorarlberg’s MH Elektrotechnik goes bust
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An Altach-based electrical engineering company has asked officials to start bankruptcy proceedings in a bid to continue doing business after having its finances restored.The Federal Creditors Protection Association (KSV 1870) announced today (Weds) that authorities in the province of Vorarlberg started checking the finances of MH Elektrotechnik GmbH which has debts of around 1.6 million […]
Leather car seat maker Vogl is broke
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More than 150 workers fear losing their jobs as a car industry supplier goes bust.Mattighofen-based leather producer Vogl said today (Thurs) that it has been forced to declare itself bankrupt following a dramatic decrease in orders of its products from car manufacturers. It used to provide leather seats for German firms like BMW, Porsche and […]