Eisenstadt. In the case of the commercial bank Mattersburg in Burgenland AG, bankruptcy proceedings have now been opened. The KSV1870 has its own lawyers deployed.
Was today on application by the Financial Market Authority (FMA) opened the bankruptcy proceedings against the commercial bank Mattersburg im Burgenland AG (CMB) at the regional court Eisenstadt, announces the KSV1870.
On July 14, 2020, the FMA financial market supervisory authority prohibited the bank from continuing its business and appointed a government commissioner as a supervisor, who found that the bank was over-indebted and ready for bankruptcy.
The number of affected creditors is not yet known. The sum of the amounts already paid out by the deposit guarantee was already around EUR 245 million yesterday and is increasing daily. In total, the deposit insurance company expects a reimbursement amount of up to EUR 490 million.
According to bankruptcy law for banks, the deposit guarantee in bankruptcy proceedings with your recourse against the bankruptcy estate is ranked as a priority bankruptcy creditor (class bankruptcy). The satisfaction prospects of general class creditors will depend on the extent to which realizable assets actually exist, the KSV continues.
Kosch & Partner as mass administrator
- Kosch & Partner Rechtsanwälte, appointed by Gerwald Holper and Michael Lentsch (7000 Eisenstadt, Hauptstraße 27), have been appointed the bulk administrator of the CMB.
- The reporting and examination days will take place on October 12th, 2020, the registration deadline is September 28th, 2020
Creditor claims can now be filed via the KSV1870. In the insolvency proceedings “the causes of the scandalous collapse of the bank institution, which is extremely important for the region, as well as the questions of liability of third parties to the bankruptcy estate” will be dealt with verbatim, the creditor protectors sent out verbatim, and further: “The KSV1870 is now under legal examination whether liability claims against third parties can also be asserted outside of the insolvency proceedings. “
Previous examples of bank failures are not very encouraging
According to KSV1870, a long procedure is to be expected in any case. The organization, which was founded in the 19th century, points to Austrian economic history, which leaves nothing to be hoped for for CBM creditors – the complexity of handling such bankruptcies is reflected in the length of the proceedings:
- Bank for Trade for Industry AG, Graz (bankruptcy opening 1995): 11 years
- Trigon Bank AG, Vienna (bankruptcy filing 2001): 18 years
- Riegerbank AG, Vienna (bankruptcy filing 1998), still pending, previous procedure almost 22 years.
–
–
