Money can flow

FC Dornbirn’s restructuring plan has been approved

The Rothosen can breathe a sigh of relief as the restructuring plan was approved unanimously at the Feldkirch regional court. FC Dornbirn will transfer 254,820 euros to its creditors within the next eight months.

Good news for FC Dornbirn: the restructuring plan with self-administration was approved at yesterday's planning meeting at the Feldkirch regional court. This means that 30 percent of the recognized liabilities amounting to around 849,400 euros will be paid, meaning that the creditors will receive a total of 254,820 euros.

FC Dornbirn must pay 24.25 percent of this amount in the first six weeks. These 210,000 euros are provided by an investor. The remaining 5.75 percent - 44,820 euros - must be paid within the next eight months. The payment proposal was accepted by the creditors without a dissenting vote.

"Approval of the restructuring plan is the best possible economic decision for all parties involved. In the event of rejection and the subsequent liquidation of the company, the insolvency creditors could only have expected a significantly lower liquidation rate," says Regina Nesensohn, Head of the Feldkirch office of Kreditschutzverband 1870 (KSV).