Image: HELMUT FOHRINGER (APA)
To date, 450 creditors and around 1,530 employees have registered claims totaling EUR 93.3 million, according to the creditor protection associations Creditreform and KSV1870. So far, 51 million euros have been recognized by the insolvency administrator. The claims of the employees should amount to 8.8 million euros, a total of 3325 former employees are affected.
The largest creditor in the insolvency proceedings opened in June is the Republic of Austria: the tax office registered a claim of 46.5 million euros. The Austrian health insurance company demands 3.5 million euros, the Covid 19 finance agency demands 3.9 million euros. Landlords and banks claim 12.1 million euros.
With regard to the continuation of the company since the bankruptcy was opened, the insolvency administrator reports that the results are currently above the figures calculated in the financial plan. As part of the restructuring concept, 23 of the 40 Kika/Leiner branches across Austria were closed at the end of July 2023. Brigitte Dostal from KSV1870: “The successful sale and also the financial means made available by the owner in the millions make a significant contribution to the company’s liquidity during the restructuring process. Due to the positive continuation prognosis, the regional court of St. Pölten approved the continued operation of the company.”
Claims can still be registered
Some of the claims were disputed as a precaution for further clarification due to lack of time and are to be recognized retrospectively in the next few weeks: “Creditors who have missed the registration deadline can register their claim later,” says Stephan Mazal from Creditreform. The legal deadline for subsequent registrations is two weeks before the final invoice hearing. Later registrations can no longer be considered.
The creditors will decide on the future of kika/Leiner in one month when voting on the restructuring plan on September 25, 2023. So far, the creditors have only been offered the statutory minimum quota of 20 percent in two years – and a capital majority of 50 percent of the creditors present will be required,” says creditor protector Stephan Mazal from Creditreform. In any case, the minimum quota can still be improved by paying a cash quota.
Source: Nachrichten
