Insolvency drama in Frastanz: Safety company Ruined - creditors go away empty -handed!

Insolvency drama in Frastanz: Safety company Ruined - creditors go away empty -handed!

In the economy world, it can sometimes be faster than expected. As the Vorarlberger Nachrichten report, the bankruptcy proceedings on the security company "Si Security Austria", which was operated by Adam Katfaoui from Frastanz, opened. This procedure was initiated at the end of November 2024 and now ends with a dramatic loss for the creditors.

The entire imbalance concerned a sum of over 200,000 euros, whereby specifically around 201,000 euros in recognized claims get stuck in the air. Of the 15 affected creditors, seven are directly involved in the action as employees. The tax office has the lion's share of the claims, with more than half of the outstanding amounts.

the way through the insolvency proceedings

How exactly does such an insolvency proceedings work? Creditors are well advised to register their claims in good time, otherwise they often remain on their open invoices. Experts of anwalt.de emphasize that the deadline for registration is at least two weeks and a maximum of three months. However, it is usually between four to six weeks. Missed deadlines can be registered after a fee, which often makes little sense.

No question, the insolvency proceedings poses great challenges for the creditors concerned. Above all, the employees can hope for the insolvency fee fund. This fund jumps for open demands of the employees, which are financed from employer contributions. This could help the employees concerned to get at least part of their salary back.

legal framework and support

What many do not know: A claim can be identified as "contested" if the insolvency administrator does not recognize them. The closer circumstances must then be clarified in an examination meeting. Creditor associations such as KSV and Creditreform also come into play here that can offer support. The requirements for the claim are high, it must be precise and complete, otherwise the claim could be lost, as the Chamber of Commerce wko.at emphasized.

It becomes particularly delicate when it comes to secretion and separation rights that can claim secure creditors. These regulations are intended to prevent certain assets from being lost in bankruptcy proceedings. To register the claims, there are fees that must be considered.

Overall, this case shows once again how important it is to register your own claim in good time in the bankruptcy proceedings. For the creditors of the Adam Katfaoui, holding onto the financial train will nevertheless be a bizarre game: in the end a large part of their claims will probably go away.