It was a surprising insolvency announcement in the middle of last Advent: The SFL Engineering of the dazzling Styrian industrialist Johann Höllwarth applied for a reorganization process. In the middle of Holy Week there is now the green light for the restart – with significantly fewer employees.
Johann Höllwart is one of the best-known entrepreneurs in the country. Since 1988 he has managed the company SFL, which specializes in high-quality metal and glass facades. But the road to success ended in 2017, and SFL Technologies in Stallhofen slipped into insolvency. The restructuring application was accepted by the creditors, but there was another bankruptcy in 2019. In the meantime, the company has been restructured, and assets have also been divided differently within the group. After the second insolvency, this led to numerous rescission processes, some of which concerned SFL Engineering in St. Marein im Mürztal. Value in dispute: more than two million euros. There is a risk of insolvency Last year, SFL Engineering lost its first lawsuits. The company therefore surprisingly applied for a reorganization procedure with self-administration on December 7th – due to impending insolvency. On Wednesday, the credit protectors of KSV and AKV reported: The majority of creditors have approved the restructuring plan, the continuation of the company is secured! The facade construction area and the accounting department were closed, so only 65 of the 98 employees at the beginning of the process are still employed. In the future, the focus will be on the areas of glass production and glass facade construction. Lawsuits were averted In addition, impending lawsuits were averted by the insolvency administrator of SFL technologies GmbH, which was also insolvent, and an agreement was reached. The creditors will receive 30 percent of their outstanding claims within 14 days: a total of 10.5 million euros have been registered, and 6.8 million euros are currently recognized.
source site-12