A restructuring procedure without self-administration for the company, which operates in the field of alternative energies and energy efficiency, was opened at the St. Pölten Regional Court on Friday, the creditor protection association AKV announced. The company had already announced this step after talks with main creditors failed at the end of November.

Restructuring Procedure Has Been Opened

The AKV estimated the assets at around 823,000 euros in free assets. The book value of the liabilities amounts to 7.94 million euros, of which 3.4 million euros are unsecured. Thirteen employees are affected. Wages and salaries were only paid up to and including November. The total number of creditors is 110.

(APA/Red)

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