No Money from Al Jaber: Restructuring of Kneissl Has Failed

People ♦ 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…

or Log In

Fast News Search
Related News
Kneissl: Creditors Accept Restructuring Plans (June 1, 2011)
Al Jaber Intends to make further Investments in Austria (April 25, 2011)
Al Jaber in Distress (April 23, 2011)
Kneissl is Insolvent (February 8, 2011)
Kneissl: "Al Jaber pays" (January 5, 2011)
Kneissl: Insolvency Seems Inevitable (January 3, 2011)
Kneissl: Bankruptcy Application Possible Despite Capital Increase (November 25, 2010)
Read More
Illiquidity, Tyrol, Insolvencies, Bankruptcy, Mohamed Bin Issa Al Jaber, Kneissl Ski Manufacturer, Sports Industry, Restructuring, Bank Austria
Featured
See latest Vindobona Newsletter