Windhager Bankruptcy: Investigations Initiated Against Former Executives

As reported by the "Salzburger Nachrichten" on Thursday, investigations have been initiated by the public prosecutor's office against two former managing directors. There is an initial suspicion of fraudulent bankruptcy, grossly negligent impairment of creditor interests, and fraud, explained a spokeswoman for the Salzburg public prosecutor's office.

Windhager Insolvency: Investigations Are Still in the Early Stages

However, the investigations are still in the early stages. An expert has been commissioned to prepare an expert opinion. According to the newspaper, the investigations are not surprising: In large insolvencies with significant damage to creditors, it is common for the question of criminal liability to be raised.

Windhager filed for insolvency in January 2024 and caused the largest corporate bankruptcy in the state of Salzburg last year. Creditor protection associations estimated the liabilities at the opening of the insolvency proceedings at over 86 million euros, with the number of creditors around 500. At the end of February 2024, the heating manufacturer was taken over by the parent company of the water treatment company BWT. 90 out of 440 positions were cut. The nearly completed new Windhager plant for heat pumps, including a logistics center in Pinsdorf (Gmunden district), went to the Wels-based real estate group Meir. In early April 2025, the final meeting for one of Windhager's main companies will take place at the Salzburg Regional Court.

(APA/Red)

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