Court admits EUR 5.2m creditor claims for Gussing biomass plant - report

Sep 11, 2013 - The district court of Eisenstadt, eastern Austria, has admitted creditor claims in the amount of EUR 5.2 million (USD 6.9m) against the insolvent biomass plant in Gussing, Peter Stromberger of creditor association AKV Europa told news agency APA.

The court discussed the Gussing case on Monday this week, reviewing 66 submitted claims. The session was aimed at deciding which of the claims are admissible and which could be disputed.

Initially, the amount of liabilities was expected at EUR 6 million.

Stromberger told APA the Gussing plant was still in operation with maintenance and restructuring measures being carried out. New liabilities will be covered by the EUR 200,000 which investor Michael Dichand and his Care Beteiligungsverwaltung GmbH have left with the insolvency administrator.

The future continuation of operations at Gussing depends on whether the revamp plan for the site will be approved. The vote on the plan is due on October 21.

An estimated EUR 2.5 million will be necessary to keep the plant on stream.

(EUR 1.0 = USD 1.326)

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