FRAISS IT GmbH applies to restructuring activities without self-administration

Company on July 11, 2024 FRAISS IT GmbH, Herrengasse 9, 8010 Graz, submitted an application to the Cross Regional Court for Civil Law Matters to open restructuring proceedings without self-administration.

  • Company property
    The company is active in the fields of providing services in automated data processing and information technology and advertising graphic designers.
  • Administrative director:
    DI Rebecca Eichner-Cormick
    DI (FH) Mario Fraiß-Kollmanitsch
  • Partner:
    DI Rebecca Eichner-Cormick (25 %)
    DI (FH) Mario Fraiß-Kollmanitsch (38%)
    DI Michael Hesse (25%)
    Eng Stephen Klinger (12 %)
  • Creditor: Around 22
  • Employee: 28
  • Passive: rd. Euro 964,000.00
  • Active: rd. Euro 362,000.00

Redevelopment Plan:

Bankruptcy lenders will get 20% stipend, payable as cash stipend up to a maximum of 2 years after acceptance of restructuring plan.

Grounds for Bankruptcy (Act DebtorDeclarations):

The debtor company has had to accept significant bad loans in the recent past. Insolvency proceedings were initiated in this court in relation to the assets of ISTmobil GmbH at 27 S 91/24w, resulting in a small loss of receivables in excess of EUR 170,000.00. Other customers also failed to pay. In addition, the research bonus and research grant are yet to be paid. All of these circumstances mean that we are currently unable to meet our current obligations in the foreseeable future.

Further procedural data:

The debtor company was established by the contribution of the sole proprietor FRAISS – IT Consulting & Mediendesign eU with a contribution and work agreement dated December 10, 2018.

The restructuring concept of the company provides continuity and the need to fund the restructuring plan allocation should be generated through continuous operations.

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“The appointed insolvency administrator must verify that the interests of the creditors continue and that the proposed restructuring plan can be adhered to,” says Mack, chairman of the Corporate Insolvency Cross.

KSV1870 provides for all creditors to be represented in this case.

Cross, 11.07.2024

Questions:

Rene Young
Head of South Zone
Email: [email protected]

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