Konkurs is a form of proceedings under Austrian insolvency law and is opened by the competent court when the statutory requirements are met – when a company is unable to pay its debts or is over-indebted. During bankruptcy proceedings, the company’s assets are administered and realised in accordance with the applicable legal provisions. At the same time, creditors’ claims are reviewed and processed.
However, bankruptcy does not necessarily mean that a company is immediately deleted from the register or that its business activities cease at once. The respective stage of the proceedings is crucial for the assessment.
Information on bankruptcy proceedings plays an important role particularly in:
- credit decisions,
- creditworthiness assessments,
- due diligence processes,
- compliance reviews, and
- the assessment of existing business relationships.
It is therefore relevant not only that bankruptcy proceedings exist, but also the stage they have reached.
Bankruptcy in the FinAPU Firmenbuch
The FinAPU Firmenbuch displays bankruptcy proceedings separately from other types of proceedings.
It also presents other decision-relevant information in a structured format, including company status, authorised representatives, historical company names and proceedings context for corporate officer roles. This makes it easier to assess a company’s situation and reduces research effort.
