1 Market overview
A number of crisis factors such as COVID, the Russian invasion of Ukraine, and Israel’s war against Hamas have influenced the Austrian restructuring and insolvency environment in the past few years. There are now initial signs of the economic pressure easing (such as a decreasing base rate), although the economic effects of these various crisis factors have yet to fully reach the real economy.
After the number of insolvency proceedings decreased massively during the pandemic, insolvencies returned to the pre-crisis level in 2022, with around 5,000 proceedings. In 2023, this trend continued. The number of corporate insolvencies rose by around 13% to 5,380 compared with 2022, which corresponds to the level ten year…
Read the full article at: https://www.iflr.com/article/2dhic2yn9ul1bh59zarcw/sponsored/companies-paying-high-price-as-austrian-insolvencies-continue-to-rise