It was a month of trembling and fear before the fog was erased a few days before the payment day on the account of the recipient of the renovation – and clearly: motorcycle manufacturer KTM is saved, the nearly 600 million euros for the renovation are protected! But: the creditors are still waiting for their money. Reason: the renovation plans are still not legally confirmed.
“At the beginning of this week we started activating orders and to do long-term delivery calls for several months,” said KTM and Pierer Mobility boss Gottfried Nemeister on May 22, when it was clear that the Indian Pierer partner Bajaj Bajaj had set up all the money for financing the renovation plan. There was a final amount of 525 million euros!
Have passed three weeks
And it is precisely this money that is still on the trust drawing of KTM-AG-AG-Sanatorungwalter Peter Vogl. Reason: On 23 May, the redevelopment plans of KTM AG, KTM components GmbH and KTM Research & Development GmbH were confirmed by the regional court in the Innkreis – but the legal power of the confirmation decisions and the associated abolition of the renovation procedures is long later.
Some creditors have already asked
“It is not unusual for an important matter if, after the renovation plan has been confirmed, it is waiting for the confirmation decision of the confirmation to ensure that the legal decision is not made to ensure that Petra Wögerbauer of the Credit Protiation of the Lenolvenie -says the insolvenie -says the insolent long in the queue.
Why do you consciously take your time? They waited to give complaints from foreign creditors sufficient time. To maintain the opposition period, the date of the postal task in the respective shipping location and after creditors are also located in Asia and North America, the Swiss mail can go to the Innviertel.
At least until Friday, June 13, no objection was received. It is therefore expected that the legal force will take place next week. As soon as this has taken place, the money will be paid to the creditors within two weeks. These have apart from 70 percent of their claims.
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.
