Insolvencies

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: Staff asks for continuity concept

The staff of A-Tec's subsidiary AE&E (Austrian Energy & Environment) call on the negotiators in the restructuring process to ensure continuity.

November 17, 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

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: Compromise Between Banks and Creditors

The creditors of the ailing industrial group A-Tec have been able to reach a compromise with the banks to provide further financing for the Group.

November 5, 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

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

Bond Refinancing Collapsed: A-Tec Starts Insolvency Proceedings

After several problems with the refinancing of its corporate bond, A-Tec decides to start a restructuring.

October 20, 2010

Insolvencies: Declining Trend for Both Companies and Individuals

KSV expects 10% less insolvencies for 2010, but warns about the consequences of fiscal budget adjustment.

September 28, 2010
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