A Dornbirn-based building waterproofing company, BMO Bauwerksabdichter e.U., has entered into insolvency proceedings, according to a notice filed Tuesday with the Feldkirch Regional Court. The company initiated the process itself, seeking restructuring with continued operation.
BMO Bauwerksabdichter’s financial difficulties stem from outstanding payments owed by a major client and unresolved warranty claims from subcontractors, the company stated. Total liabilities are estimated at approximately 200,000 euros.
As part of the restructuring plan, BMO Bauwerksabdichter is offering creditors a payment of 30 percent of their claims, to be paid over two years following approval of the plan. Creditors have been given until April 9th to submit their claims through KSV1870, an Austrian credit protection agency.
Lukas Pfefferkorn, a lawyer based in Dornbirn, has been appointed as the restructuring administrator. Pfefferkorn is associated with TWP Rechtsanwälte and has experience in insolvency and bankruptcy law, according to the firm’s website. He similarly appears in records as an insolvency administrator through Kanzlei Dr. Michael Kaufmann, Dornbirn and Thurnher Wittwer Pfefferkorn Rechtsanwälte GmbH.
A hearing to examine and report on the restructuring plan is scheduled for April 23rd at the Feldkirch Regional Court. The KSV1870 is assisting creditors with the claims process.
