Reorganization proceedings

FC Dornbirn gets a fresh start in the Westliga

There is a threat of an earthquake at FC Dornbirn's annual general meeting today.

(Bild: Maurice Shourot)

"A decision at last", the Red Shirts must be thinking. Because yesterday the news arrived that restructuring proceedings with self-administration can be opened at the regional court in Feldkirch on the basis of an application for self-administration, the 30 percent compensation sought in recent weeks and months.

This means that a majority of creditors are on board. "Those we have spoken to have all assured us of their support," says Andreas Genser, now a former member of the Management Board, but who, as the former CFO, is still in charge of the restructuring process. This probably also means that the Austrian Health Insurance Fund (ÖGK) is on board - where the largest share of the outstanding receivables is expected. Restructuring proceedings in this context can only be opened if the majority of creditors - both in terms of heads and claims - agree.

Good news for FC Dornbirn. Who, according to Genser, have done everything to make the "rescue" of the club possible. Including a return to the Regionalliga West, which is now a done deal. "We provided the court with everything. Including a prognosis for the club's continued existence. Everything fits, everything is on track."

No missed deadline
Genser clearly refutes media reports in various local media that an important deadline was missed at court last Thursday. "It was agreed with the judge by our lawyer that we would only hand in the case on Friday morning. Due to scheduling conflicts with our lawyer the day before. I don't understand why that was an issue," says the FCD veteran. "Now we're waiting for the next instructions from the court. In any case, we have the necessary money ready, we're waiting for the payment instructions."