It is not just the multi-billion dollar bankruptcy of René Benko’s Signa empire that is causing concern among bankruptcy experts – because in Carinthia alone, nine companies are currently having to close every week. There are fears of record insolvency by the end of the year. And also that more and more traditional companies are getting into trouble.
With nine company bankruptcies per week, Carinthia has one of the highest insolvency rates in Austria this year – plenty to talk about for the top bankruptcy experts between Klagenfurt and Vienna, who came to the 40th Carinthian Seminar on Insolvency Law in Grado to discuss not only legal issues innovations , but also the reasons for them to look forward to the unprecedented wave of bankruptcies. Because an increase of almost 73 percent exceeds even the worst fears.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
