Insolvency
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Bankruptcy proceedings for Austrian Klausner’s sawmill operations in US
Austrian company Klausner, which began operation in US back in 2015 has filed for insolvency. Bankruptcy proceedings were opened yesterday at the Innsbruck Regional Court against Klausner Nordamerika Beteiligungs GmbH and Klausner Trading International GmbH on their own application. According to the Kreditschutzverband von 1870 (KSV 1870), Dr. Stefan Geiler was appointed as administrator for both companies. The creditors' meeting is scheduled for June 3 in both cases, the deadline for filing open claims is May 20. The reason for the insolvency of Klausner Nordamerika Beteiligungs GmbH, for which according to KSV preliminary figures liabilities of around €28 million have accrued, is outstanding loan repayments from two companies in the USA. These two US-based companies in turn hold 100% stakes in three and two other companies in the USA respectively. Attempts made since autumn... Continue reading
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April 15, 2020
Bankruptcy proceedings for Austrian Klausner’s sawmill operations in US
Austrian company Klausner, which began operation in US back in 2015 has filed for insolvency. Bankruptcy proceedings were opened yesterday at the Innsbruck Regional Court against Klausner Nordamerika Beteiligungs GmbH and Klausner Trading International GmbH on their own application. According to the Kreditschutzverband von 1870 (KSV 1870), Dr. Stefan Geiler was appointed as administrator for both companies. The creditors' meeting is scheduled for June 3 in both cases, the deadline for filing open claims is May 20. The reason for the insolvency of Klausner Nordamerika Beteiligungs GmbH, for which according to KSV preliminary figures liabilities of around €28 million have accrued, is outstanding loan repayments from two companies in the USA. These two US-based companies in turn hold 100% stakes in three and two other companies in the USA respectively. Attempts made since autumn... Continue reading
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April 15, 2020
Bankruptcy proceedings for Austrian Klausner’s sawmill operations in US
Austrian company Klausner, which began operation in US back in 2015 has filed for insolvency. Bankruptcy proceedings were opened yesterday at the Innsbruck Regional Court against Klausner Nordamerika Beteiligungs GmbH and Klausner Trading International GmbH on their own application. According to the Kreditschutzverband von 1870 (KSV 1870), Dr. Stefan Geiler was appointed as administrator for both companies. The creditors' meeting is scheduled for June 3 in both cases, the deadline for filing open claims is May 20. The reason for the insolvency of Klausner Nordamerika Beteiligungs GmbH, for which according to KSV preliminary figures liabilities of around €28 million have accrued, is outstanding loan repayments from two companies in the USA. These two US-based companies in turn hold 100% stakes in three and two other companies in the USA respectively. Attempts made since autumn... Continue reading
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March 14, 2018
French Court offers permission to Rougier to restructure African business
French tropical wood specialist Rougier has gained court permission for restructuring measures after filing for insolvency protection. The group filed for court protection this month after suffering persistent difficulties in Cameroon, where a chronic backlog at the port of Douala has caused significant operational disruption for subsidiaries in Cameroon, Congo and the Central African Republic. The situation has led to persistent cash flow pressures, exacerbated by the delays with VAT credit reimbursements for the operational African subsidiaries. Its application for protection was granted by Poitiers Commercial Court on Monday. Restructuring measures are to be implemented for the Rougier Afrique International business. Rougier had been in talks with its main creditors about the situation and was supported in seeking insolvency protection. The Rougier Afrique International... Continue reading
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April 15, 2020
Bankruptcy proceedings for Austrian Klausner’s sawmill operations in US
Austrian company Klausner, which began operation in US back in 2015 has filed for insolvency. Bankruptcy proceedings were opened yesterday at the Innsbruck Regional Court against Klausner Nordamerika Beteiligungs GmbH and Klausner Trading International GmbH on their own application. According to the Kreditschutzverband von 1870 (KSV 1870), Dr. Stefan Geiler was appointed as administrator for both companies. The creditors' meeting is scheduled for June 3 in both cases, the deadline for filing open claims is May 20. The reason for the insolvency of Klausner Nordamerika Beteiligungs GmbH, for which according to KSV preliminary figures liabilities of around €28 million have accrued, is outstanding loan repayments from two companies in the USA. These two US-based companies in turn hold 100% stakes in three and two other companies in the USA respectively. Attempts made since autumn... Continue reading