Sponsored Content
Insolvencies
Al Jaber Owns Kneissl Again
The insolvent ski manufacturer Kneissl will be owned by the Arab investor Al Jaber again. Creditors approved to a 20% quota.
January 28, 2012
Schlecker Insolvency: 3,000 Jobs Endangered
The German chemist chain today filed for insolvency. In Austria, Schlecker employs 3,000 workers.
January 23, 2012
Rise in Private Insolvencies in 2011
Austrian private insolvencies rose by 4.0% in 2011. 9,600 persons were concerned.
January 5, 2012
Palmers-Subsidiary Lejaby Under Pressure
A French court opened insolvency proceedings on the subsidiary of the Austrian clothing company.
December 22, 2011
Kuhn Holding Buys Emco
A purely Austrian solution was found for the former A-Tec subsidiary. The Austrian mechanical engineering company is acquired by Kuhn Holding.
December 21, 2011
Business Insolvencies Declining
In spite of the economic cool-down, private as well as business insolvencies were going down in 2011.
December 20, 2011
Many Applicants in Emco Sale
The Austrian mechanical engineering company, which is a subsidiary of the insolvent A-Tec group, is highly sought-after. The sale price is estimated to reach € 30m.
December 19, 2011
Rising Number of Private Insolvencies
Mobile phone and car expenses are causing most private insolvencies in Austria.
December 15, 2011
Interest for A-Tec Subsidiary Brixlegg
The copper segment of the insolvent Austrian A-Tec group could find a new owner soon. An Austrian aluminum trader intends to purchase Brixlegg.
November 26, 2011
A-Tec: Investigations Against Kovats
Investigations by the Austrian Public Prosecution Authority against the CEO of A-Tec, Mirko Kovats, proceed. The suspicions are massive.
November 19, 2011
Kovats Complains against Court Order
A-Tec’s outgoing CEO challenges a court decision as he sees an infringement of his property rights.
November 3, 2011
Sale of A-Tec Problematic
The insolvent Austrian A-Tec corporation, which is currently being dissolved, faces several problems. The sale of the remaining subsidiaries Brixlegg and Emco could be delayed.
November 2, 2011
A-Tec: Kovats to be Replaced
Mirko Kovats, CEO of the Austrian A-Tec, will be replaced from his positions in order to avoid further “disturbances”.
October 22, 2011
ATB Sold to Chinese Wolong Group
The Austrian ATB company, a former subsidiary of the insolvent A-Tec Group, goes to the Chinese engineering corporation Wolong.
October 19, 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
ATB is Optimistic to Find a New Buyer
The subsidiary of the insolvent A-Tec corporation is looking for a new owner. Now, it is important to find a quick solution.
October 10, 2011
Penta Bids for A-Tec Again
The Czech-Slovak group is still interested in an acquisition of the insolvent Austrian conglomerate and has now submitted a new offer.
October 7, 2011
Kneissl Acquired by “Friends of Sports”
The bankrupt Tyrolean ski producer is taken over by a German holding company. The brand name will be retained; the Kufstein production site will be expanded.
October 6, 2011
Kovats Blames Creditors and Penta
Mirko Kovats, CEO of the A-Tec group, makes the Czech investment group Penta and the banks responsible for the failed restructuring plan
October 4, 2011
A-Tec: Investors Call Kovats to Resign
The founder and CEO of the Austrian technology group A-Tec Mirko Kovats comes under fire. Wilhelm Rasinger from the Austrian investor´s representation asks Kovats and the liquidator Matthias Schmidt to step down.
October 3, 2011
Chinese Interest for ATB
After the collapse of the takeover of A-Tec, the subsidiary has to be sold separately. The Chinese Wolong group plans to acquire the Austrian automotive company.
October 1, 2011
A-Tec to be Dissolved
The Austrian technology company, which should have been sold as a whole, could not find a buyer. The remaining assets will now be offered separately.
October 1, 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
A-Tec: Kovats Cancels Sale to Contor
The Austrian conglomerate needs another € 90m in order to fulfill the restructuring plan. A new general meeting will be held.
September 28, 2011
Kneissl to Be Taken Over by Foreign Investor
Negotiations about the sale of the bankrupt Tyrolean ski producer are about to be concluded. Three investors from Europe and overseas are still interested in an acquisition.
September 23, 2011
Sale of A-Tec on the Brink of Failure
The Supervisory Board of the insolvent technology group wants to take up negotiations with Penta Investments again after a Pakistani investor pulled out of the deal.
September 22, 2011
FPÖ Claims New Currency Area
The chairman of the Austrian Freedom Party, Heinz-Christian Strache, calls for the creation of a “core Europe” with a new currency.
September 19, 2011
Increasing Equity Quotas of Austrian SME
The average equity quota of Austrian SME in 2009/2010 was 28%. This is an improvement against the previous years. However, 30% of SMEs are overindebted.
September 19, 2011
A-Tec Accepts Offer of Contor Industries
After several months of negotiations a decision has been made: The group will be split up, ATB and Montanwerke Brixlegg will be sold to foreign investors.
September 5, 2011
A-Tec: Kovats to Step Back by Year-End
The CEO of the insolvent Austrian group wants to finalize the deal with an investor before resigning from his position. Negotiations with Penta have been suspended.
September 1, 2011
Kneissl: Decision about Sale to Be Taken in September
Four international investors are interested in taking over the insolvent Austrian ski manufacturer. A purchase price of € 4m is expected.
August 29, 2011
A-Tec: Supervisory Board Postpones Decision to September
A decision on the sale of the insolvent conglomerate will not be taken before 2 September. Penta Investments is irritated by the offer of a competing bidder.
August 26, 2011
Kovats with New Plans for A-Tec
According to a new proposal, Penta Investments should only take over part of the Austrian conglomerate. CEO Kovats has submitted an own offer with financial support from a Pakistani billionaire.
August 24, 2011
Further Delay in Sale of A-Tec
The group’s supervisory board has asked for expert advice on the sales process. A decision might be taken at the end of August.
August 18, 2011
Sale of A-Tec Imminent – Mirko Kovats Attacks Politicians and Banks
The Austrian conglomerate’s negotiations with investors are about to be concluded. CEO Kovats criticized banks for being “no help in securing jobs”.
August 11, 2011
Penta Is Extending Offer for A-Tec
The Czech-Slovak investment group has affirmed its interest in a takeover of the Austrian conglomerate and extended the validity of its offer.
July 28, 2011
Blue Chip Energy Filed for Insolvency
The solar cell producer has abandoned production today. Asian investors are said to be interested in an acquisition of the Burgenland-based company.
July 21, 2011
House Searches at A-Tec’s Management
Serious allegations have been made against Board Members of the Austrian conglomerate which is currently negotiating with potential investors. Eight houses have been searched.
July 20, 2011
A-Tec: Kovats Wants to Stay on Board
CEO Mirko Kovats does not want to give up control over the Austrian conglomerate. He is trying to push through a sale to his favorite bidder which would give him a role in the group.
July 15, 2011
Bankruptcy Judge Stops Production at Kneissl
The Austrian ski manufacturer continues the search for an investor. Production has been stopped by the judge in the bankruptcy proceedings.
July 14, 2011
A-Tec Received Binding Offers from Investors
Investors will need at least € 210m in order to fulfill the payout plan. Up to five potential buyers were still interested in an acquisition.
July 1, 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
Five Investors Still Interested in A-Tec
A-Tec boss Mirko Kovats has to find a buyer for his insolvent group by June 30. Investors will need at least € 225m in order to fulfill the payout plan.
June 24, 2011
Bilfinger Berger to Acquire Subsidiary of AE&E
The Czech subsidiary of the insolvent plant manufacturer will become part of the German construction group Bilfinger Berger.
June 20, 2011
Record Loss for A-Tec in 2010
The insolvent company reported a loss of € 585m. Nonetheless, CEO Kovats sees a positive development and remains optimistic.
June 15, 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
Swedish Investor Buys Insolvent JoWood
The Austrian computer game producer will resume business after its acquisition. A payout plan ratio for the creditors has not yet been determined.
June 6, 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
Penta Investments Interested in A-Tec
Time is pressing. A decision has to be made by the end of June.
May 27, 2011
Crisis Not the Cause of Most Bankruptcies
The majority of last year’s insolvencies had company-internal reasons and was not directly related to the economic crisis.
May 19, 2011
Fast News Search
