Third bankruptcy of an ambitious home and electrical engineering company

Die IBE-Solution GmbH based in St. Michael, Leoben Regional Court has applied for restructuring proceedings without self-administration. 12 employees are affected by the bankruptcy.

“The object of the company is the provision of planning services and construction management services for building and electrical engineering. The entire installation technology is planned primarily for larger projects and we work primarily for commercial and industrial customers,” says he AQUA.

The company has three locations: in 8770 St. Michael in Upper Styria, in 9524 Villach and in Vienna-Favoriten.

The causes of bankruptcy

“With regard to the causes of the insolvency, it is stated that a customer claim in the amount of 400,000 euros could not be collected and a civil case is currently pending in Germany in this regard. It is not yet possible to predict whether this claim can be collected,” says AKV

But this is not the first insolvency: restructuring proceedings were already pending regarding the company’s assets for business figures 18 S 13/23x and 18 S 20/24b. In the second procedure, a restructuring plan with a 20 percent quota was concluded, although the last partial quota of 3.75 percent could not be paid.

Debts and assets

The liabilities are said to amount to around 800,000 euros. The assets are valued at 168,000 euros, of which 60,000 euros are bank balances.

The renovation

“The aim is to continue the company and conclude a restructuring plan with the creditors, although the current restructuring plan only provides for the statutory minimum offer of 20 percent within 2 years,” it continues.