“In order to ensure that the ongoing projects were carried out at the same time, several construction managers were employed as dependents to ensure the technical processing of the sold projects. However, according to the debtor’s statements, the construction managers were unreliable, which led to numerous complaints from buyers and repeated cases of damage . Criminal proceedings were subsequently initiated against a construction manager and he was also legally convicted,” said the AKV. “Improving the resulting deficiencies was sometimes only possible with considerable effort, so that individual projects could only be realized at a loss.”
About the CREA Erehrungs GmbH based in Linz, bankruptcy proceedings have been opened according to AKV and KSV1870. The debtor, founded in 2019, was most recently active in the area of real estate development and purchased properties, developed projects and sold terraced houses or semi-detached houses.
According to AKV, “there was initially high demand, which is why the debtor invested significantly in providing a sufficiently wide range of products and developed a larger number of projects. Various restructuring measures did not have the desired effect and ultimately insolvency occurred. This constitutes insolvency There are no others besides the managing director Employees affected.”
Debts and assets
The liabilities amount to 2.06 million euros, the assets 1.97 million euros.
“There are currently some construction projects open or completed and not sold and, according to the opening application, this also results in considerable assets for the debtor totaling around EUR 1.97 million. Whether and to what extent this can be realized is still unclear at the moment unclear and will be checked by the liquidator Dr. Mooseder,” it continues.
According to the opening application, there are currently no plans to continue the business activity. The debtor has already agreed to the company closure.