The amount of liabilities of the damaged Bregenz property developer has increased six-fold since bankruptcy proceedings were opened in November. According to GF Giesinger, however, no effects on his Form 4 planning office.
The latest developments surrounding the insolvency of the Bregenz property developer RSG Wohnbau GmbH are slowly revealing the true extent of the million dollar bankruptcy.
In November, when bankruptcy proceedings were opened at the Feldkirch regional court, there was still talk of EUR 600,000 in assets, which are offset by liabilities of around EUR 2 million, according to the credit protection association, the amount of debt has now skyrocketed.
KSV speaks of “more and more gaps in the list of creditors”
In response to a VOL.AT request from Regina Nesensohn, regional office manager of the KSV in Feldkirch, the insolvency expert informed: “After the first creditor application and the opening of the bankruptcy proceedings, liabilities of around 2 million euros were assumed, mainly to a supplier. In the meantime, it has been revealed But there are more and more gaps in the list of creditors. The sum of 11.8 million euros that is now being rumored is also made up of claims from banks, the tax office, the ÖGK, public levies or other loan liabilities.”
Insolvency administrator: “Such an increase is absolutely unusual”
Insolvency administrator and former receiver of the developer Mag. Lukas Pfefferkorn (TWP Rechtsanwälte Dornbirn) is currently working on the process and confirms to VOL.AT that such an increase in the reported liabilities is absolutely unusual, but that he would first like to comment on the process, if everything had been checked in detail and meticulously.
In response to a VOL.AT request from Alexander Giesinger, the managing director of the insolvent RSG Wohnbau GmbH referred to any double or triple billing and the explanations given by Pfefferkorn. As of today, the company website of the damaged property developer is no longer accessible on the internet.
Giesinger: “Insolvency has no effect on Form 4”
In addition, according to Giesinger, the bankruptcy has no effect on his architecture and planning office Form 4. The building contractor replied to rumors that employees there would be laid off: “Form 4 is an independent company and is not related to the bankruptcy proceedings of RSG Wohnbau. And We have not laid off any employees either. Only one apprentice has voluntarily decided to leave the company because he has accepted another offer. And I do not stand in the way of a young person’s future.”
