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Abalon-headquarters in Heiligenkreuz – here staging a meeting of Austrian hardwood sawmillers © Fachverband Holzindustrie

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Abalon restructuring with 20%-quota

Article by Gerd Ebner, translated by Robert Spannlang | 04.07.2014 - 14:57

Proceedings without self-administration for hardwood company

13535687828468.jpg

Abalon-headquarters in Heiligenkreuz – here staging a meeting of Austrian hardwood sawmillers © Fachverband Holzindustrie

On Monday, Austrian hardwood sawmilling group Abalon Hardwoods announced its decision to apply for reorganization proceedings (see link 1) – so "reorganization proceedings without self-administration" have now been launched by the Regional Court of Eisenstadt/AT. Ms. Barbara Senninger from Stegersbach/AT was appointed as liquidator. The proposal of the recovery plan provides for a 20%-quota for the creditors.

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