Gazprom Austria, the Austrian subsidiary of Russian energy conglomerate “Gazprom”, has applied to the Vienna Commercial Court for a restructuring case totaling more than 30 million euros in connection with the company’s bankruptcy. Options for further reconstruction have not yet been determined, informs local newspaper Heute cites data from audit firm KSV1870.
Gazprom’s subsidiary is located in the Austrian capital, Levelstraße. The company’s management owes about € 31.4 million to 38 creditors. It is stated that the reason for the financial difficulties is the lack of fuel supply due to the impossibility of payment of Gazprom Export and its subsequent conversion into rubles.
“Gazprom Austria has applied for a sanitation procedure. Accounts payable are expected to exceed 30 million euros. The company applied to the Vienna Commercial Court to initiate a renewal procedure without independent management. A specific proposal for a reconstruction plan has not yet been submitted,” the material says.
According to KSV1870 spokesperson Jurgen Gebauer, it is not yet clear whether the court will actually file bankruptcy proceedings as a restructuring case. For such paperwork, Gazprom Austria management must present a specific plan for the future of the company.
March 2 Croatian Prime Minister Andrej Plenkovic declarationAustria and Germany are interested in gas supply through the local terminal to buy liquefied natural gas (LNG). Thus, Croatia can diversify its energy supply to neighboring countries against the backdrop of a sharp decline in energy imports from Russia due to international sanctions.