Austria: Alpine Holds € 52m in Assets

Politics ♦ Published: October 9, 2013; 15:25 ♦ (Vindobona)

Creditors of Alpine have very little chances of being compensated after the construction company declared bankruptcy. Currently Alpine holds € 52m in assets.

Austria: Alpine Holds € 52m in Assets / Picture: © Alpine Logo Press Photo

“We have now established liquid assets of around € 52m,” liquidator Stephan Riel announced on Wednesday after today’s examination hearing at the Commercial Court in Vienna. However, there a claims in the amount of € 30m from employment contracts.

The former second-largest construction company in Austria has caused the biggest insolvency of the Second Republic. The…