The Legal 500

UNIVERSITÄTSRING 10, 1010 VIENNA, AUSTRIA
Tel:
Work +43 1 533 47 95
Email:
Web:
www.dbj.at

Main work contacts

CategoryContact
Arbitration Florian Kremslehner, Christian Dorda, Christoph Stippl
Banking and finance Andreas Zahradnik, Tibor Varga
Capital markets Andreas W Mayr, Christoph Brogyányi
Central and Eastern Europe Martin Brodey, Stefan Artner
Competition and antitrust Stephan Polster
Corporate and commercial Christoph Brogyányi, Bernhard Rieder, Francine Brogyányi
Insurance Felix Hörlsberger, Florian Kremslehner
IT, IP and media Axel Anderl
Employment Thomas Angermair
Litigation Florian Kremslehner, Felix Hörlsberger
M&A Martin Brodey, Andreas W Mayr, Jürgen Kittel
Private client Paul Doralt, Elmar Drabek
Public procurement and administrative law Bernhard Müller
Real estate and construction Stefan Artner
Restructuring and insolvency Andreas Zahradnik, Tibor Varga
Tax Paul Doralt, Martina Znidaric

Legal Developments by:
Dorda Brugger Jordis

  • Survey of Austrian insolvency law and its current developments

    Austrian law distinguishes between composition proceedings in accordance with the Composition Code (Ausgleichsordnung-AO) and bankruptcy proceedings in accordance with the Bankruptcy Code (Konkursordnung-KO). Bankruptcy proceedings have to be opened if the debtor is unable to pay. In particular, inability to pay must be assumed if the debtor suspends payments. Inability to pay does not require that creditors are actively seeking payment. Bankruptcy proceedings are also opened in the event of overindebtedness in relation to commercial companies if no personally liable partner is a natural person, in relation to the assets of legal entities and in relation to the estates of deceased persons.
    - Dorda Brugger Jordis

Legal Developments in Austria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to