FC Wacker Innsbruck GmbH, which is in insolvency, has to reckon with open liabilities of 3.5 to 4.0 million euros. The creditor protection association KSV1870 expects this sum after a first hearing in the bankruptcy proceedings on Wednesday in the Innsbruck Regional Court. Due to the high demands of the GmbH on the club FC Wacker Innsbruck, according to KSV, the continued existence of the football club, which is trying to restart in the fourth division, is not guaranteed.
120 creditors had registered claims of around EUR 16.5 million, of which the insolvency administrator Herbert Matzunski recognized around EUR 2.5 million. The lawyer did not consider claims of around EUR 14 million, including EUR 12.8 million from a former sponsor, to be unjustified.
In addition to the EUR 2.5 million, KSV1870 expects further claims. “The reason for this is that creditors under public law have not yet completed their examinations and massive additional claims are pending. Realistically, one will have to assume around 3,500,000 euros to 4,000,000 euros in open liabilities,” said a broadcast by the creditor protection association.
According to Klaus Schaller, head of the KSV1870 Innsbruck site, the situation has come to a head in 2021. “In the first half of 2021, the debtor already generated a shortfall of over 400,000 euros. The situation is even more dramatic in the 2021/2022 season (July 2021 to May 2022). Here the debtor recorded a loss of well over 1,000,000 euros. The insolvency administrator assumes that the insolvency requirements at FC Wacker Innsbruck GmbH will be in place by July 1, 2021 at the latest,” Schaller is quoted as saying in the broadcast. Liability issues of the managing directors will have to be examined.
The insolvency administrator reported “management by account balance”, i.e. a lack of economic separation between the GmbH and the association. How the club will continue is therefore open to KSV1870. “Due to the mixing of the economic activities of FC Wacker Innsbruck GmbH with those of the club FC Wacker Innsbruck, the continued existence of the club is also not secured. The insolvency administrator Dr. Matzunski speaks of the enormously high demands of the GmbH against the association,” reported the creditor protection association. It is to be feared that the club will also slide into bankruptcy.
(WHAT)
Featured image: GEPA
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