Eurologistics GmbH (Salzburg): Application for insolvency
Insolvency of its shareholder Kretz Speditions-, Verwaltungs- und BeteiligungsgmbH broke the neck of Eurologistics forwarding.
On 19 September 2011 bankruptcy proceedings about the assets and liabilities of Eurologistics GmbH were opened at the regional court Landesgericht Salzburg. The company has already stopped its forwarding and goods transport activities and terminated the employment contracts with the employees. The receivables of the debtor are opposed to counterclaims by the customers. Liabilities amount to about EUR 1 million, as the association for the protection of creditors KSV 1870 announces.
The first difficulties of the Eurologistics forwarding company were results of the financial crisis that caused a major loss of orders and receivables. Then came financial problems of the shareholder company Kretz Speditions-, Verwaltungs- und BeteiligungsgmbH. The bankruptcy proceedings about the assets and liabilities of this company were opened on 15 April 2011 at Vienna’s commercial court Handelsgericht Wien. Due to the insolvency of the shareholder, who guaranteed for receivables of the debtor at a factoring institute, the factoring was terminated and the payment order was stopped with immediate effect. This cessation of payments eliminated the basis for usual order handling.
Quelle: LogEastics
Portal: www.logistik-express.com