Higher Regional Court Vienna raises the alarm: Eyemaxx security under criticism!

Higher Regional Court Vienna raises the alarm: Eyemaxx security under criticism!

Korneuburg, Österreich - A sensational process currently employs the loan believers of Eyemaxx Real Estate AG. On May 28, 2025, the Vienna Higher Regional Court rejected the appeal of the lifestyle real ownership MBH & CO KG, which was filed against a judgment of the Korneuburg State Court of September 27, 2024. BondGuide reports that this instance had confirmed the effectiveness of the security order in favor of the bond believers for the property in Innsbruck.

The bankruptcy administration's insolvency administration had initiated the appeal, and the Vienna OLG made it clear that the arguments of the insolvency administration were not convincing. Specifically, the administration had claimed that it was a forbidden deposit reference and that the collateral on super rätikat should not be considered sufficient. However, the Vienna OLG rejected both arguments, but agreed that a revision was approved, since no high judge has so far been made on this matter. However, the judgment is not yet final.

The background of bankruptcy

The Eyemaxx Real Estate AG had already submitted an bankruptcy application in November 2022. After approval on November 5, Dr. Ulla Reisch appointed bankruptcy manager. However, a renovation plan was withdrawn on December 17, 2022 after the Austrian subsidiary, Eyemaxx International Holding & Consulting GmbH, became insolvent. As a result, the vote on the renovation plan had to be canceled.

With the appeal of the lifestyle real ownership, the recycling company shows how complex the situation for the bond lovers is. These can continue to register using a form to be informed about current developments. The One Square Team, which represents the interests of the creditors, works closely with the law firm Heuking Kühn Lüer Wojtek to ensure their rights, according to the information from One Square Advisors.

What does that mean for the bonds?

The Eyemaxx 2020/25 bond is noted at the same level as its irrelevant sisters, which is not exactly gratifying for the creditors. If the security order continues to exist, the bond could be noted higher and thus offer more security for bonds.

The process is a constant memory of how important it is to attentive developments in bankruptcy proceedings. The context knowledge about the various possibilities of insolvency procedure under Austrian law, as explained by the WKO, shows that creditors have to prepare well. A renovation plan could theoretically offer a rate of at least 20 % within two years, but the withdrawal of the sought plan has been considerably complicated.

For those affected, bond lovers therefore have not much different from waiting and observing the situation carefully. With the uncertainty about the legally binding decision of the OLG Vienna, the final clarification could still be a long way off. It remains exciting how the legal framework will develop.