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Insolvencies


Alpine Holding: Insolvency Proceedings Now Official

The insolvency proceedings for Alpine Holding have now officially started at the Commercial Court in Vienna. Liabilities come at € 700m.
July 2, 2013


Latvia: Euro to Be Introduced 2014

Latvia will be able introduce the Euro on January 1 2014. According to diplomats, this is what the EU Commission will recommend on Wednesday in Brussels.
June 4, 2013


Decisions About Hypo Group’s Future Still Pending

Finance Minister Maria Fekter has presented herself rather reserved after the meeting with EU Commissioner for Competition Joaquin Almunia.
April 5, 2013


Austrian SMEs Keep on Struggling in 2013

Persistant insecurity and subdued growth expectations characterize the 1st quarter of 2013. Enterprises regard new energy efficiency policy as additional bureaucratic burden.
April 4, 2013


Meinl Needs to Reimburse Starbet Investors

The Regional High Court (OLG) in Vienna has passed the judgement that Meinl Bank has to compensate sports betting company Starbet
March 23, 2013


Austria: Hypo Group Still Sailing in Stormy Waters

Hypo Group wants a fast selling until the end of 2013. Vending of Italian and CESEE subsidiaries could take longer as the economic situation is not appealing at the moment.
March 12, 2013


Austria: Nationalizing Hypo Group Prevented BayernLB from Losses

EU Competition Commission pushes the Austrian government to shut down the loss-making Hypo Group.
March 11, 2013


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: 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


A-Tec: Quota Reaches 39%

The insolvent A-Tec Group pays out the insolvency quota next week.
November 7, 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


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