Insolvent transport company Frigoservice plans to continue business
High bad debt losses force Frigoservice Transport- und Logistikgesellschaft mbH to take remediation measures
At the regional court Landesgericht Eisenstadt the remediation process without self-administration about the assets and liabilities of Frigoservice Transport- und Logistikgesellschaft mbH was opened on 20 March. The insolvency of the company based in Weingraben, Burgenland, affects three employees and 45 creditors.
According to information of the association for the protection of creditors KSV 1870 the indebted company’s assets amount to EUR 5.5 million (EUR 5.3 million thereof rights of segregation and separation). Liabilities are indicated with about EUR 6.2 million (EUR 5.3 million thereof rights of segregation and separation). Walter Janits, managing director, says the reason for the insolvency are high bad debt losses. The share capital is EUR 42,000 and has been completely paid.
The indebted company plans to continue its business. They presented a remediation plan when they filed for insolvency. All unsecured insolvency creditors will be offered a 20 per cent share, to be paid within two years from acceptation of the remediation plan. The examination hearing will take place on 14 May 2012 at the Landesgericht Eisenstadt. The hearing for the decision about the presented remediation plan is scheduled for 18 June 2012.
Quelle: LogEastics
Portal: www.logistik-express.com