Zizooboats GmbH, a yacht rental company based in both Berlin and Vienna, is currently in preliminary insolvency proceedings. The Berlin branch of the company is undergoing formal insolvency procedures, while insolvency proceedings are pending against the parent company, Zizooboats GmbH Wien.
In recent news, it has been revealed that Coparion and Check 24 Ventures have invested in both the Berlin and Vienna branches of Zizooboats. The provisional insolvency administrator in Berlin has taken over control of the company and is now responsible for securing and preserving its assets by monitoring its financial situation.
The Charlottenburg District Court has announced that the provisional insolvency administrator has the authority to collect bank balances, other claims from the debtor, as well as to accept incoming funds. It was Yacht magazine that first reported on the insolvency, although there have been complaints about Zizoo’s business practices in the past, including unpaid boat rentals and refunds for cancellations and failed boat rentals.
Meanwhile, Viennese lawyer Paul Kessler has filed a bankruptcy petition at the Vienna Commercial Court. The court has ordered Zizooboats GmbH to transfer an advance payment of 4,000 euros for the start-up costs of the bankruptcy proceedings and to submit a “completed list of assets” by February 23, 2024. If Zizoo denies insolvency, it must prove that it has paid its creditors or at least entered into installment agreements with them.