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Critical Phase for A-Tec
Next Wednesday the insolvent company’s restructuring plan will be submitted. Afterwards, there will remain two weeks remain for the adoption of the concept.
If the restructuring plan to be submitted on Wednesday is not accepted until mid-January, i.e. 90 days after filing the insolvency, bankruptcy proceedings will have to be opened for the A-Tec Group. Liabilities amount to a total of € 750m, making it the third largest bankruptcy in history of the Austrian economy. Most of the liabilities are however conditional claims (€ 550m).…
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