“According to the application, the currently difficult situation in the construction or real estate industry, as well as high interest rates and inflation for the economic imbalance of the company. With increasing key interest rate and stabilizing the level of inflation, increased interest of (UA institutional) buyers could again be recorded,” said Creditre reform. “Extrajuid reorganization measures have already been taken and with the support of external advisors an extrajudicial restructuring process in order to counteract the challenging market environment. Unfortunately, the extrajudicial reorganization measures failed unexpectedly.”
We are talking about the Süba at With the headquarters in Vienna from the company empire by Klemens Hallmann. A renovation process without self -administration at the Vienna Commerce Court was opened on Monday. That confirms A wreath of stands von Creditreform the courier. The company currently employs ten employees.
“The applicant is one of the most established and constant builders and is a developer of high -quality and sustainable real estate projects in Vienna and the surrounding area. In recent years, the applicant has also expanded to Germany (Munich) and Hungary (Budapest). The sole shareholder is Hallmann Holding International Investment GmbH (FN 267096 P),” says it.
Debt and assets
According to their own request, free assets of around 8.66 million euros exist, of which EUR 2.13 million is due to fixed assets and 6.52 million euros on the current assets.
The liabilities amount to around 226.37 million euros, of which 74.36 million euros are liability for banks, 16.21 million euros relate liability to suppliers and 29.7 million euros are liability against the insolvent Süba Bau and Projekterichtungs GmbH. Süba AG owes around 33.89 million Euo and 30.57 million euros are eliminated on loans and 35.09 million euros are on other liabilities. Around 100 creditors are affected by the bankruptcy.
The future
“According to their own application, promptly property transactions should ensure sufficient funds for the financing of the operational continued operation,” it says. The creditors are offered 20 percent quota. The renovation plan day statute is scheduled for July 10, 2025.