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Insolvency of Viennese Real Estate Developer Lukas Neugebauer and his LNR Group
Another Austrian real estate company has been hit by insolvency. Bankruptcy proceedings have now been opened at the Vienna Commercial Court over the assets of Viennese real estate developer Lukas Neugebauer and his LNR Group. The bankruptcy affects both B&R Generalunternehmer GmbH and LNR Development GmbH, two central companies in Neugebauer's real estate conglomerate. The insolvency affects 32 creditors who have claims totaling 94 million euros. The creditors have until December 30, 2024, to assert their claims.
The LNR Group caused a stir a few years ago with the acquisition of the then Novomatic Forum, formerly known as Österreichisches Verkehrsbüro. / Picture: © Wikimedia Commons / C.Stadler/Bwag / CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)
The LNR Group, which has made a name for itself in recent years with the acquisition of the former Novomatic Forum (now known as the “Kleines Haus der Kunst”) and other prominent real estate projects in Vienna, is now facing major financial difficulties, as reported by ORF. Lukas Neugebauer, Managing Director of the…
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