Well-known castle forced into bankruptcy

This crash is hardly royal: the well-known Leopoldsdorf Castle is insolvent. On Friday, the Korneuburg regional court opened restructuring proceedings with self-administration via its operating company. The debts are said to amount to a whopping 12.9 million euros. The reason for the million-dollar bankruptcy is an unfortunate domino effect.

In recent years, the property in Lower Austria has been rented to various customers by Lifestyle Realimmobilien-Verkehrsgesellschaft mbH & Co KG. But with Eyemaxx International Holding & Consulting GmbH and VST Building Technologies AG, two prominent tenants slipped into the fold in 2021 insolvency. Both companies rented office space there. The rental agreements were terminated. Since then, new tenants have not been found, and attempts to sell the castle were also unsuccessful.

Who is affected by the bankruptcy?

According to a report by Kurier, a total of 23 creditors are affected by the bankruptcy. Although the total liabilities amount to 12.9 million euros, a large part of it is secured by mortgages Property and the property first mentioned in the 12th century was therefore deposited as security. According to initial estimates, only around 366,000 euros are relevant to the quota for a restructuring plan.

What happens to the castle now?

Even after the proceedings have been opened, insolvency administrator lawyer Michael Ludwig-Lang continues to strive for this sale of the stately property. There are already interested parties from abroad. How promising the negotiations are is still unclear. Creditors can register their claims until July 2, 2026. The meeting, i.e. the court date at which the insolvency court, the debtor, the insolvency administrator and the creditors meet to discuss the insolvency case, is planned for July 16th.