Insolvency of Europa-Fracht Speditionsgesellschaft m.b.H. in Hallein

Following the opening of a bankruptcy proceedings by own application Europa-Fracht Spedition aims at debt relief in the form of a restructuring plan
 
Following their own application, bankruptcy proceedings about the assets and liabilities of the forwarding company Europa-Fracht Speditionsgesellschaft m.b.H., based in Hallein, was opened at the regional court Landesgericht Salzburg on 17 June. The insolvency affects seven employees and 950 creditors. Assets amount to about EUR 356,400, as opposed to liabilities of EUR 1.827 million. Dr. Thomas Hufnagl, lawyer in Salzburg, was appointed as liquidator. Claims can be made before 28 August, informs the Austrian association for the protection of creditors KSV 1870.
 
The indebted company aims at debt relief in the form of a restructuring plan (legal minimum quota 20 %), depending on the results of the realisation efforts and debt collection of the liquidator. According to the management the reason for the insolvency was the deteriorating flow of payments, the loss of major customers due to price dumping, reduction of agreed volumes of major customers, interruptions in payment, bad debt losses and the cancellation of an order.

Quelle: LogEastics

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