Article Tools

No Money from Al Jaber: Restructuring of Kneissl Has Failed

Published: June 15, 2011; 19:29 · (Vindobona)

The last attempt to rescue the Tyrolian ski manufacturer has failed as majority owner Al Jaber has not transferred the € 2.1m necessary to continue business. The company will be liquidated.

No Money from Al Jaber: Restructuring of Kneissl Has Failed / Picture: © MBI International & Partners

Kneissl’s majority owner Sheikh Mohamed Bin Issa Al Jaber would have had to transfer € 2.125m to the escrow account of liquidator Stefan Geiler by the end of Wednesday in order to rescue the ski manufacturer.

Wednesday, 11:30 am: Al Jaber signals a transfer to his spokesman Alfred Autischer. 12:30 pm: liquidator Geiler has not yet received a confirmation of the transfer. 3:30…

This article includes a total of 225 words.

or Log In