Another company from the insolvent Signa Group has filed for bankruptcy.
As the Austrian Association of Creditreform announced on Thursday, Muthgasse Bl 1a GmbH & Co KG, a so -called Propco (Property Company), applied for a renovation process without self -administration at the Vienna Commercial Court within the group. Lawyer Michaela Tschiderer was appointed insolvency administrator.
The insolvent company is a project-related real estate company that held assets in the Signa Group. The procedure aims at a legally secure and revenue maximizing recycling of the affected property, according to the notification. According to the own application, the property was the subject of an investor before requesting bankruptcy: interior process, but this failed because of tax risks that were no longer solvable. Now a legally accompanied renovation should regulate the progress.
A total of around 28 creditors are affected: the liabilities amounted to around 21 million euros, according to Creditform. Some of the claims come from connected companies and are therefore considered subordinate.