Insolvency proceedings still not completed – lawsuits against auditors and former responsible parties are still ongoing
The creditors of the insolvent Salzburg construction company Alpine will receive a further quota payment of four percent in the coming weeks, as the credit protection association KSV1870 announced on Thursday. To date – almost eight years after the opening of the largest insolvency proceedings to date in the Second Republic – quota payments totaling ten percent have been made. The recognized claims amount to 1.6 billion euros.
The KSV assesses the winding-up of Alpine Bau GmbH and the essential recycling processes as completed. Nevertheless, the insolvency proceedings are likely to drag on, as “difficult” court cases against auditors and former leaders are still ongoing. Whether the creditors will see more money depends on the outcome of these proceedings.
