After 4,5 years: Niki creditors get a 23 percent quota

Niki logo on an Airbus A320 (Photo: Jan Gruber).
Niki logo on an Airbus A320 (Photo: Jan Gruber).

After 4,5 years: Niki creditors get a 23 percent quota

Niki logo on an Airbus A320 (Photo: Jan Gruber).
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The bankruptcy proceedings, which were opened almost four and a half years ago over the former airline Niki Luftfahrt GmbH, are about to be completed. According to a statement by the Credit Protection Association in 1870, creditors should receive a quota of 23 percent.

The collapse of the Air Berlin Group also drew the Austrian subsidiary Niki into the maelstrom of bankruptcy. Initially, Air Berlin's insolvency administrator Lucas Flöther tried to conduct the proceedings in Germany. Lufthansa was originally supposed to get the company, but the EU Commission had serious concerns. Flöther then concluded a purchase agreement with Vueling, but this did not last because the German insolvency proceedings were overturned due to a lack of jurisdiction - Niki is an Austrian company.

The regional court in Korneuburg then opened a real trial, because the one that had previously been conducted in Germany had been declared illegal and therefore null and void. The sale of the assets was restarted and this time Laudamotion GmbH was awarded the contract by Niki Lauda. However, the company Niki Luftfahrt GmbH was not sold. The trademark rights were also not taken over, only operationally relevant assets.

Around 4,5 years after the opening of the bankruptcy proceedings, this is about to be concluded. The Credit Protection Association of 1870 announced that a quota of 23 percent would be distributed to the creditors. The state-approved creditor protection association describes this as high and therefore as pleasing. The insolvency administrator positively highlighted the cooperation with the regional court in Korneuburg.

Niki creditors received money from the bankruptcy estate for the first time last year. At that time, around eight percent were distributed as part of a so-called interim distribution. With the conclusion of the insolvency proceedings, the history of the former airline Niki will also end legally. In any case, one has not been in the air since flight operations were suspended shortly before Christmas 2017.

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