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Critical Phase for A-Tec

Published: December 28, 2010; 11:00 · (Vindobona)

Next Wednesday the insolvent company’s restructuring plan will be submitted. Afterwards, there will remain two weeks remain for the adoption of the concept.

Critical Phase for A-Tec / Picture: © A-Tec

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).…

This article includes a total of 225 words.

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