LTU Spedition GmbH in Graz became insolvent
Opening of a restructuring proceeding of the LTU forwarding company affects 21 employees; the objective is to continue business
“The LTU Spedition GmbH is no longer able to meet its current payment obligations. The respective regional court in Graz has opened a restructuring proceeding without self-administration“, the creditors’ association Alpenländische Kreditorenverband (AKV) informs in a press release.
The lawyer Mag. Stefan Weileder (Graz) was appointed as liquidator. The registration period for creditors ends on 11 August 2014. The hearing will be on 25 August 2014.
The proposition for the restructuring stipulates a 20 per cent quota for the insolvency creditors, to be paid within two years from legal acceptation.
According to the records the fully paid share capital is held by the managing sole associate Herbert Ladler-Kelz.
The business object of the insolvent company is forwarding and transport, with 14 vehicles being used on mainly regular tours, and five rented vehicles in use. At the date when the insolvency was filed, the company had 21 employees on its pay roll.
Apart from sales declines resulting from the economic crisis, the reason for the insolvency were considerable bad debt losses due to insolvent customers. According to the management, the competitive pressure from Eastern Europe has risen as well.
According to the AKV liabilities amount to EUR 688,000. Taking into consideration the assets of EUR 198,700, provisional indebtedness is EUR 489,300. The indebted company shall continue its business. First restructuring measures are being implemented.
Quelle: LogEastics
Portal: www.logistik-express.com
