Read the latest headlines about laws, jurisdictions and court decisions in Vienna and Austria with reference to the international interest
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Austrian Economic Legal Issues and Insolvencies

Austria: Hypo Managing Board Warns of Losses

Hypo Group’s managers fear that selling the bank precipitately might lead to additional losses up to € 5bn for the bank and federal state.

March 7, 2013

Austria: Elsner Files Lawsuit in US Supreme Court

Former BAWAG CEO Helmut Elsner filed a lawsuit over $ 1.8bn against members of the Austrian Social Democrat party (SPÖ).

March 7, 2013

Austria: New CEO for Alpine

The construction company was saved from bankrupcy and is now looking for a new CEO

March 5, 2013

Austria: Alpine Turns Out a Big Burden For FCC

The construction company has avoided bankrupcy and is save – for the time being.

March 5, 2013

Business Insolvencies Up Again

Last year, Austria has recorded 6,266 business insolvencies. Unlike 2010 and 2011, the number of insolvencies has increased.

January 15, 2013

Hungary: No Mandatory Voter Registration

The Hungarian Constitutional Court rejected the law proposed by the government.

January 5, 2013

Austrian Government Agrees on Bank Restructuring Law

“The agreements at government conference are intended to strengthen financial sector.” Finance Minister Maria Fekter says.

November 9, 2012

A-Tec: Quota Reaches 39%

The insolvent A-Tec Group pays out the insolvency quota next week.

November 7, 2012

FPÖ Files Suit Against ESM

The biggest Austrian opposition party files a legal complaint against the European Stability Mechanism (ESM) at the Austrian Constitutional Court.

October 15, 2012

Private Insolvencies: More than 100,000 Austrians Concerned

This year, 7,000 private insolvencies were registered in Austria. According to KSV (Austrian Association of Creditors), much more people are illiquid, though.

September 28, 2012

Austrian Companies Expect Increase in Lending Costs

Due to Basel III, lending will become more expensive, many Austrian managers and entrepreneurs think.

September 27, 2012

Austrian Business Insolvencies on the Rise

In the first eight months of 2012, the number of insolvencies was up by 8.7% to 2,663.

September 20, 2012

New Airline for Hungary?

After the insolvency of Malev in March 2012, the Hungarian government is said to promote a new airline.

September 6, 2012

270,000 Austrian Households Are Insolvent

The gap between rich and poor households is growing persistently. The number of over-indebted households is still growing.

September 4, 2012

FMA Pushes for Bank Insolvency Law

The Austrian Financial Market Authority increases pressure on the government. Director Helmut Ettl says the Austria needs an insolvency law for banks as soon as possible.

August 7, 2012

Austrian Enterprise Creation Slightly Up

2010: 26 172 start-ups, enterprise creation rate 6.5%; more than 19 000 new employer enterprises.

August 7, 2012

„Dayli“: Up to 20% Yield

With the acquisition of Schlecker Austria, the Austrian investment funds TAP 09 wants to achieve the turnaround soon.

August 2, 2012

Bankruptcy Prevented: Schlecker Austria Becomes „daily“

The Austrian investment funds TAP 09 acquires the financially stricken chemist chain. Schlecker Austria should become a local grocer.

July 31, 2012

Schlecker Austria to be Rescued?

The Austrian subsidiary of the bankrupt German chemist chain and its subsidiaries in Poland, Italy, Belgium and Luxembourg may be continued.

July 30, 2012

Constitutional Court: ESM Examination Takes up to 6 Months

According to the biggest Austrian opposition party FPÖ, the European Stability Mechanism violates the Austrian constitution.

July 25, 2012

Schlecker´s Financial Situation Becomes Critical

Schlecker Austria, the subsidiary of the insolvent German chemist chain, is becoming more and more problematic. The liquidity is said to be used up in a few days.

July 25, 2012

Insolvencies in CESEE on the Rise

In 2011, the number of business insolvencies rose by 25% in the CESEE region. Hungary ranks first.

July 25, 2012

Bank Insolvency Law: No Austrian Solo Run

Austria´s government changed its mind. There will be no national bank insolvency law. Austria will wait for a European solution instead.

July 23, 2012

MTH Takes Over Schlecker´ Subsidiary

MTH, the investment company of the Austrian industrialist Josef Taus acquires 109 branches of IhrPlatz, a subsidiary of the insolvent German chemist chain.

July 20, 2012

Schlecker Austria: Time Pressure Grows

The potential buyers of Schlecker Austria are still highly skeptical. Until August, a decision must be taken.

July 18, 2012

Austrian Opposition Parties Fight Against Fiscal Pact

The three Austrian opposition parties FPÖ, The Greens and BZÖ announced to bring a complaint of unconstitutionality against the Fiscal Pact.

July 13, 2012

Schlecker Austria Sees High Probability of Takeover

The insolvency manager of the German chemist chain Schlecker sees a favorized potential buyer for Schlecker Austria.

July 9, 2012

Alpbach Legal Symposium 2012

Under the motto “Acceptance of Law in Rapid Decline?”, the Alpbach Legal Symposium 2012 will be held from Monday, August 27, 3:00 pm to Tuesday, August 28, 12:45 pm in the Congress Centrum Alpbach.

July 7, 2012

„Good Prospects“ For Schlecker Austria

The insolvency manager of the bankrupt German chemist chain views „promising talks with potential investors“.

June 30, 2012

Austria Appreciates Opening of Accession Negotiations

After the beginning of the accession negotiations with the EU, the Austrian government congratulates Montenegro.

June 26, 2012

Dismal Prospects for Schlecker Austria

An insolvency of Schlecker Austria seems likely. A sale to MTH is still uncertain.

June 25, 2012

Government´s Plans on Bank Insolvency Law Failed

The Austrian government initially planned to initiate a bank insolvency law in order to liquidate financially stricken banks without major difficulties. Now, the plan has failed.

June 22, 2012

Schlecker Austria Threatened by Insolvency

The Austrian subsidiary of the insolvent German chemist chain must find a buyer in order to prevent its own bankruptcy.

June 19, 2012

Last Financial Statement at A-Tec

The Austrian insolvent A-Tec Industries AG published its last financial statement. In 2011, A-Tec´s net income reached minus € 344m.

June 18, 2012

Business Involvencies on the Rise Again

There is a trend reversal in the Austrian economy. In the first half of 2012, business insolvencies will be up by 1.2%, Creditreform forecasts.

June 16, 2012

„Shotdown of Hypo Group Would Cost € 6.0bn“

The management of the nationalized Austrian Hypo Group Alpe Adria asserts that the shutdown would be more expensive than the continuation of the business.

June 15, 2012

Vienna International Airport Cancels Leases with Sardana

VIA filed legal proceedings against the Indian company. The bankruptcy proceedings should begin soon.

June 13, 2012

MTH Group Considers Taking Over Schlecker Austria

The industrial holding group MTH may acquire the Austrian subsidiary of the insolvent German Schlecker Group.

June 12, 2012

Insolvencies: Stable Development Expected

In 2012, the number of Austrian business insolvencies is expected to remain stable. Whereas in Germany and the U.S. insolvencies are decreasing, Southern Europe faces a vast increase.

June 5, 2012

„Schlecker Austria is Solvent“

The spokesman of Schlecker Austria is optimistic to find a buyer for the Austrian subsidiary of the insolvent German chemist chain.

June 4, 2012

No Future for Schlecker

The insolvent German chemist chain will be closed. Fort he Austrian subsidiary, the search for a buyer goes on.

June 1, 2012

Schlecker Austria: Sale Seems Likely

The Austrian subsidiary of the German chemist retail chain is said to be sold.

May 30, 2012

Croatian Subsidiary of Alpine Said to be Insolvent

Osijek Koteks, the Croatian subsidiary of the Austrian construction group faces severe problems. According to rumors, Osijek Kotekts is illiquid.

May 8, 2012

Business Insolvencies Expected to Increase

After two years of decreasing business insolvencies, the Austrian economy faces a rising number of business insolvencies again.

April 26, 2012

Former GDR Funds: Bank Austria Has to Pay € 245m

Bank Austria lost a Zurich retrial over German demands for repayment of more than € 245m linked to the former East German Communist Party.

April 21, 2012

Slight Decrease in Business Insolvencies

In the first quarter of 2012, Austrian business insolvencies went down by 0.6% against the first quarter of 2011. Private insolvencies are rising further.

April 14, 2012

Schlecker: „Jobs in Austria are in Safety“

The Austrian subsidiary of the insolvent German chemist chain Schlecker is not affected by the shut-down program. Jobs are “relatively safe”.

March 30, 2012

Austrian Insolvencies Decreasing

In the first quarter of 2012, the number of Austrian insolvent enterprises is declining. Against the first quarter of 2011, the figure was down by 1.2%.

March 28, 2012

Rothensteiner Against Bank Insolvencies

Raiffeisen Zentralbank´s CEO Walter Rothensteiner is against the discussion about bank insolvencies.

March 24, 2012

Orange Takeover Threatens to Fail

The takeover of Austria´s third-largest telecommunication service supplier Orange by the Hong Kong-based Hutchison Group may be postponed. Orange´s creditors are increasingly nervous.

March 22, 2012
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