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As the creditor protection association KSV1870 reports, M-Tron, based in Bad Leonfelden, has applied for restructuring proceedings without self-administration at the Linz regional court. As of December 31, 2022, the annual financial statements of the company, which deals with the assembly of elevators and steel construction, still showed positive equity.
However, after an audit by the auditor, there were objections to some balance sheet items. The amended annual financial statements now show negative equity. According to KSV, the liabilities are around 26.2 million euros and the assets are around 313,000 euros.
The plan is to continue the company. Creditors are offered a 20 percent restructuring plan (five percent payable within four weeks and 15 percent within 24 months).
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