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Insolvencies

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

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

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

„Good Prospects“ For Schlecker Austria

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

June 30, 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

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

Private Insolvencies on the Rise

Long-term studies show that the number of private insolvencies is increasing in Austria. Since 2002, their number has tripled.

March 12, 2012

AUA´s Insolvency Becomes More Probable

German newspapers report that Lufthansa could establish a new Austrian airline company. AUA could be left then.

March 2, 2012

Schlecker Closes Branches

The insolvent German chemist chain shuts down the half of its branches in Germany. In Austria, inprofitable shops will be closed.

March 1, 2012

AUA Attempts to Prevent FlyNiki to Approach Tel Aviv

Austrian Airlines files a complaint against FlyNiki at the Austrian

February 18, 2012

A-Tec´s Quota to Reach 30%

In July, the insolvency quota of A-Tec will be paid to creditors. The quota will range from 30% to 35%.

February 10, 2012

Sale of Brixlegg Concluded

The former copper-division of the insolvent Austrian A-Tec Group has been sold to the Swiss Umcor AG.

February 10, 2012

AUA to be Re-Sold?

Rumors on Austrian Airlines do not end. A sale by Lufhansa is discussed, even the insolvency is not excluded.

February 9, 2012

Schlecker: „Austria Remains Independent“

The insolvent German chemist chain underlines that ist Austrian subsidiary is „definitively not affected“ by the insolvency proceedings.

February 9, 2012

Trade Unions: „Schlecker Austria Depends from Germany“

For the Austrian trade unions, talks with Schlecker Austria´s management are “acceptable”. An all-clear would be difficult.

February 2, 2012

No Further Rise in Insolvencies Expected

The bad debt insurers Euler Hermes and Prisma expect business insolvencies to stagnate in 2012.

February 2, 2012

Schlecker Austria Will Not Be Sold

The German chemist chain gives the all-clear. The Austrian subsidiary is not affected by the insolvency of the group.

February 1, 2012

Uncertain Future of Schlecker Austria

After the insolvency of the German chemist chain, experts consider that the Austrian subsidiary could be sold.

January 31, 2012

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
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