“The applicant’s insolvency is that this is no longer able to cover its due liabilities. It is not just a temporary state, which is why there is no pure payment. Insolvency application. “The applicant is over -indebted because the passives of society exceed the active and the continuation forecast of society is already negative due to a lack of solvency. There is also a negative equity of society, since the company’s equity has been completely used up by losses. Even on the basis of the unfavorable situation of the real estate market, which prevents the economic sale of the apartments be set up. ”
We are talking WY31 Immobilienbesitz GmbH & Co KG With the seat in Vienna. She has loud Creditreform applied for insolvency proceedings. The WY31 was founded to carry out a real estate project at Weyringergasse 31, 1040 Vienna. The applicant is a basic owner of the property.
The background
“The property is an interest rate that is still to be developed, which is partially rented and is partly empty. In April 2023, a binding purchase offer was signed in which shares in the company should have been assigned to a new owner. The buyer could not bring the necessary funds to Austria,” it says. “In November 2023, the buying has resigned. From this point on, numerous and comprehensive talks took place with the finance bank. The purpose of these discussions was to achieve the deferrals to develop the property and utilize individually.”
And further it says: “In April 2024, a corresponding funding offer was accepted on the part of the Gremial reservation on the part of the applicant. To date, the funding offer was not granted by the board of the financing bank. The loan was due on June 30, 2024 to repay.”
The insolvency causes
With the financing bank, renovation talks are said to have been held immediately and a first short -term standstill. This should serve to negotiate a long -term standstill “in order to enable an investor to be started in peace or to develop an entire renovation concept”.
“In December 2024, the prospect of long -term standstill was surprisingly not completed,” said the company. “This was particularly surprising because discussions with the potential investor also took place in December 2024.”
Still not approved
Although the financing bank has not agreed to another stand, the talks are said to have been continued. By the end of February 2025, the prospect of long -term standstill and avoiding bankruptcy is said to have existed.
“However, a financing decision by the board should not be made until April 2025,” it says. “Since the outcome is unsure about a financing and the applicant can no longer pay their open liabilities and the loan due to the lack of sufficient liquid funds, it is insolvent and over -indebted.”
Debt and assets
There is no information on the amount of the assets and debts. According to the bankruptcy application, however, the rental income covers the start -up costs of the insolvency proceedings. According to the company compass, WY31 Immobilienbesitz GmbH & Co KG had around 19.71 million euros in the financial year 2023, a loss presentation from previous years of 4.47 million euros and a loss of balance sheet of 5.1 million euros. The property systems are estimated at 14.46 million euros. The property is burdened with two lien from the financing bank of EUR 16.66 million.