Tight schedule

“Day X” for the future of KTM starts on February 25th

Robert Tremel (left) is the restructuring manager of KTM Components GmbH, Franz Mitterbauer (center) has his eye on KTM F&E GmbH, Peter Vogl (right) is the restructuring manager of KTM AG.

(Bild: Krone KREATIV/Daniel Scharinger (2), LEX3, Anwälte Mandl & Mitterbauer)

Saving, reducing inventories, reorganizing - in the course of the restructuring process, KTM not only wants to get rid of its debts in the billions, but also find its way back on the road to success. Time is of the essence: the motorcycle manufacturer from Mattighofen has 90 days to put together a restructuring plan that will convince its creditors.

Almost exactly 72 hours after KTM announced that it was filing for insolvency for KTM AG, KTM Components GmbH and KTM Forschungs & Entwicklungs GmbH, the restructuring proceedings with self-administration were opened on Friday at the regional court in Ried im Innkreis.

KTM has 90 days
The motorcycle manufacturer now has 90 days to submit a restructuring plan, which must also be approved by the creditors. If it is given the green light, the company must pay the agreed quota and is released from its remaining debts. If there is no blessing, the lead company could be liquidated.

The timetable is tight. On December 20, there will be a report meeting at which the restructuring administrators will report on the status quo. Claims can be registered until January 16, and the restructuring plan will be voted on on February 25.

The insolvency application filed by KTM AG just before Christmas is a particularly heavy blow for the employees affected. The province of Upper Austria is ready to provide support. Everything must now be done to give those affected and their families prospects.

Landeshauptmann Thomas Stelzer und Oberösterreichs Wirtschaftslandesrat Markus Achleitner

Three experienced insolvency administrators
The regional court has appointed three experienced administrators who are now acting as supervisors and monitors: Peter Vogl is responsible for KTM AG, Robert Tremel for KTM Components GmbH and Franz Mitterbauer from Altheim for KTM Forschungs & Entwicklungs GmbH.

Parallel to the opening of the insolvency proceedings, the state of Upper Austria is also rolling up its sleeves. "The state will exhaust all available options to support the employees of KTM," says Governor Thomas Stelzer.

Round table
Markus Achleitner, Upper Austria's Upper Provincial Councillor for Economic Affairs, reveals that the Upper Austrian Public Employment Service, the Upper Austrian Chamber of Labor and the Upper Austrian Chamber of Commerce have been invited to a round table next week: "The aim is to sound out which support measures are possible and how they can best be implemented".