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Signa-Retail Company Lamarr Declares Bankruptcy
The highly anticipated Lamarr Kaufhaus project on Mariahilfer Straße in Vienna, set to include a flagship department store and hotel, has filed for bankruptcy. This development comes as a significant blow, as the project, originally slated for completion in 2025, has faced financial turmoil. The insolvency was confirmed by the Creditors' Protection Association KSV 1870 on Friday.
February 4, 2024
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 Companies Expect Stricter Lending Conditions
Credit costs will increase in the coming years, a significant majority of Austrian managers says. As a result, the equity quota of Austrian small and medium-sized enterprises (SME) is growing.
September 17, 2012
Austria: Business Atmosphere Aggravates
According to the Austrian Association of Creditors (KSV), domestic enterprises demonstrate skepticism regarding the economic development.
September 11, 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
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
Comeback of Al Jaber at Kneissl?
The creditors of the Austrian ski manufacturer will vote on a new restructuring plan after the takeover by a German group has failed.
December 22, 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
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
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
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
A-Tec Restructuring Plan Confirmed
With a quota of 47%, the restructuring plan of the insolvent A-Tec was confirmed.
May 12, 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
Declining Trend in Insolvencies is Forecast for 2011
2011 brings a slight decline in insolvencies to Austria, but the economic recovery will not suffice for a substantial change in the trend.
February 16, 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
Creditors Wish Kovat´s Retreat
The creditors of the insolvent Austrian technology Group A-Tec prefer Mirko Kovats to retreat from his position as CEO.
December 30, 2010
The KSV Publishes Austrian 2010 Insolvency Statistics
The Kreditschutzverband (KSV, Credit Protection Association) has established an 8% decrease in corporate insolvencies.
December 21, 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
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
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
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
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
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
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
Bankruptcy wave in Eastern Europe
In 2009 Eastern Europe registered 44 380 company failures, which accounts for over 44 percent more bankruptcy cases than in 2008. In Western Europe, the increase was 18.6 percent, Austria performed well with 9.3 percent.
August 20, 2010
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