Sponsored Content
Illiquidity
Business Insolvencies Declining
In spite of the economic cool-down, private as well as business insolvencies were going down in 2011.
December 20, 2011
Rising Number of Private Insolvencies
Mobile phone and car expenses are causing most private insolvencies in Austria.
December 15, 2011
Private Insolvencies on the Rise
The number of private insolvencies rose by 6%, while the number of companies filing for bankruptcy declined by the same rate from January to September.
October 13, 2011
Strong Decline in Company Insolvencies
The number of private insolvencies rose rapidly from January to September, while the number of companies filing for bankruptcy dropped significantly.
September 28, 2011
Slight Decline in Company Insolvencies
Private insolvencies are on the rise, while the number of companies filing for bankruptcy is falling moderately.
June 28, 2011
No Money from Al Jaber: Restructuring of Kneissl Has Failed
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.
June 15, 2011
Kneissl: Creditors Accept Restructuring Plans
Al Jaber has to pay € 2m into an escrow account before June 15. Otherwise, the Tyrolian company will be liquidated.
June 1, 2011
According to its Employees, S&T is “Ripe for Bankruptcy"
The leadership of the troubled Viennese IT company is trying to hide an impending bankruptcy according to the company’s employees.
April 27, 2011
Al Jaber Intends to make further Investments in Austria
Despite massive criticism of business partners and rumoured illiquidity, the Saudi investor Mohammed Al Jaber wants to realize further investment projects.
April 26, 2011
Insolvencies on the Rise Again
Although insolvencies for the full year 2010 decreased by almost 6%, there sees to be a trend reversal in the first three months of 2011.
April 19, 2011
Slight Rise in Insolvencies
Austria's Credit Protection Association calculated an increase of total insolvencies by 0.7% in its preliminary statistics for the first quarter of 2011.
March 29, 2011
Rising Bankruptcy Fears in Eastern Europe
The Austrian Creditor Protection Association “Creditreform” foresees a further rise in bankruptcies in Eastern Europe. The economic crisis is not over yet.
February 9, 2011
Kneissl is Insolvent
Parts of the Austrian Kneissl group have started insolvency. Sheikh Al Jaber’s capital contribution did not take place.
February 8, 2011
Up to 150,000 Insolvent People in Austria
According to the Kreditschutzverband (KSV, Credit Protection Association 9,028 people were forced into personal bankruptcy last year. The number of people at risk is many times higher.
January 29, 2011
Increase of Payment Difficulties for Austria’s Private Households
Estimated 270,000 Austrian households are currently facing financial difficulties and are not able to serve credit sufficiently.
January 14, 2011
Kneissl: "Al Jaber pays"
The Tyrolean ski manufacturer promises once more to pay its debts. The state prosecution is already looking into the matter.
January 5, 2011
Kneissl: Insolvency Seems Inevitable
The traditional Austrian ski producer Kneissl, owned by the Arab investor Al Jaber, did not pay its mature liabilities for months.
January 3, 2011
A-Tec Quota Too Low for Creditors
The group has not defined an overall quota yet. What is certain, however, is that the current offer will be too low for the creditors.
December 17, 2010
Doubts Over Kovats’s Restructuring Plan
The value of AE&E Group is dubious. Kovats could have problems with the quota.
December 10, 2010
Kovats Has to Increase Quota
The remaining divisions of the insolvent A-Tec Group are being valued. Kovats will not be able to avoid an increase of the quota for the creditors.
December 8, 2010
Kovats Remains CEO of A-Tec for the Time Being
Despite the resignation offer to the creditors Mirko Kovats, majority owner and founder of bankrupt A-Tec, stays on as CEO.
December 6, 2010
Andritz Purchases and Restructures AE&E Austria
The Styrian plant builder buys the A-Tec subsidiary for rumored € 10 million. Restructuring plan is to be financed by Andritz.
December 3, 2010
A-Tec in the Red
The insolvent Vienna Stock Exchange listed company undergoes sales declines and a negative EBIT.
November 30, 2010
A-Tec: Kovats’s Prestige Projects on the Brink
Due to the insolvency of the A-Tec Group. founder and CEO Mirko Kovats will have to give up prestigious projects such as his A-Jet.
November 29, 2010
Insolvency of AE&E
No agreement over the purchaser of the AE&E subsidiary could be reached. However, Andritz is still considered as a prospective buyer.
November 26, 2010
AE&E: Next Insolvency is Coming Up
A subsidiary of the insolvent AE&E group in Raaba is negotiating with the Styrian plant manufacturer Andritz. They have time until Friday.
November 25, 2010
Kneissl: Bankruptcy Application Possible Despite Capital Increase
The traditional Tyrolean ski manufacturer Kneissl is possibly facing lawsuits and bankruptcy applications.
November 25, 2010
AE&E Files Insolvency Application
After weeks of negotiations between AE&E's creditor and the banks, no continuation is possible. Talks ended without reaching an agreement.
November 24, 2010
AE&E: Survival Less Likely Every Moment That Goes By
While the participants at the negotiating table constantly change, bankruptcy is imminent. An A-Tec without AE&E is now being worked on.
November 22, 2010
AE&E: Negotiations Under High Pressure
The negotiators must reach an agreement still today in order to avoid the insolvency of the industrial plant manufacturer AE&E.
November 18, 2010
AE & E: No Agreement on Sale Talks
No agreement could be reached with the interested party from Hong Kong. The search for a buyer is under intense pressure of time.
November 16, 2010
No Bankruptcy Proceedings Against Kneissl
Contrary to what has been speculated for days, no bankruptcy proceedings have been filed against the Tyrolean ski manufacturer. Five execution applications have been filed however.
November 15, 2010
A-Tec Subsidiary: Negotiations with Banks have Failed
The Kreditorenschutzverband (KSV, Creditors Protection Association) has confirmed that negotiations have failed. The Styrian AE&E is to be sold.
November 15, 2010
AE&E: New Details on Negotiations
Negotiations over the troubled A-Tec's subsidiary AE&E continue, but they get an unexpected sideshow.
November 12, 2010
S&T Denies Bankruptcy Petition
The Vienna Stock Exchange listed IT company provides S&T is facing widespread allegations. It has been rumored that the company is faced with a bankruptcy petition.
November 12, 2010
A-Tec: No Agreement Yet
According to the boss of the Kreditorenschutzverbandes (KSV, Creditor Protection Association), Hans-Georg Kantner, there will still be no solution on today Monday. Negotiations are still underway.
November 8, 2010
A-Tec: Financing Only Secured Until January
The plan of the creditors' committee was rejected. The Banks are consulting with each other for the financing of the ailing A-Tec group, after which the creditors’ committee will present a new proposal to the credit institutions.
November 2, 2010
A-Tec: Banks Working on Counter-Proposal
After the fruitless negotiations, the banks plan to draw up a counterproposal. In addition, a British investor is showing interest in joining.
October 30, 2010
Kovats in Distress: Rescue Package Must Stand Firm by Monday
The coming days are of utmost relevance for Mirko Kovats’s insolvent A-Tec Group. The rescue package must be ready by Monday.
October 29, 2010
Risk of Default of Federal Investments for 330 Million Euro
The State bought high-risk securities in 2007 and 2008. These show a high risk of default since the financial crisis. The State wants to get rid of these securities by next year.
October 29, 2010
A-Tec Restructuring: Kovats Hands Over 25.1%
The banks inject new money into the insolvent company; Kovats has no longer the majority. If restructuring fails, the banks have realization authority.
October 28, 2010
A-Tec: Will 100 Million be Given Up by the Creditors?
The creditors' committee deliberates today on how the company will continue existing. Mirko Kovats, founder and CEO of the company, wants to make a "substantial contribution" to the issue.
October 27, 2010
A-Tec Creditors: Minimum Rate Too Low
While an early agreement with the banks seems imminent, the legal minimum quota offered to the creditors of the insolvent A-Tec group is not enough. Staff’s resentment is also being felt.
October 22, 2010
A-Tec Offers a 30% Quota
CEO Kovats is trying to rehabilitate his insolvent company with the help of creditors.
October 21, 2010
Fast News Search
