In the realm of real estate development, CREA Erehrungs GmbH in Linz was once a thriving business. Established in 2019, the company had high demand for its products and projects. As a result, it invested heavily in various real estate developments. However, despite numerous restructuring efforts, insolvency occurred. The debtor’s liabilities amount to 2.06 million euros while assets total 1.97 million euros. Several construction projects remain open or completed but unsold, potentially providing assets worth around EUR 1.97 million. Dr. Mooseder, the liquidator, will assess the feasibility of realizing these assets as per the bankruptcy application. Unfortunately, there are no current plans to continue business operations.
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While some individuals may have successfully navigated their way through construction projects simultaneously while overseeing subcontractors reliably without any complaints from buyers or damage to projects; unfortunately, this was not the case for several construction managers hired as subcontractors by CREA Erehrungs GmbH in Linz.
These managers were found unreliable by the debtor resulting in complaints from buyers and damage to projects requiring significant effort to rectify which led legal action against one manager who was convicted.
As per AKV and KSV1870 bankruptcy proceedings have been initiated against CREA Erehrungs GmbH with liabilities amounting to 2.06 million euros while assets totaled 1