A-Tec Offers a 30% Quota

People ♦ Published: October 21, 2010; 11:13 ♦ (Vindobona)

CEO Kovats is trying to rehabilitate his insolvent company with the help of creditors.

A-Tec Offers a 30% Quota / Picture: © Vindobona.org

Since July 1, 2010 there is a self-administered restructuring procedure in force in Austria. A-Tec has received court approval in order to apply this new legal instrument. Consequently, daily business has been left to the management; but major decisions such as sales of assets require the approval of the restructuring administrator. The lawyer Dr. Matthias Schmidt is assuming this…