Claim for damages against former Adria Airways managers
In Slovenia, a hearing was held at the end of October 2024 in a case of a EUR 78 million damages claim against the former managers of Adria Airways. The airline's bankruptcy administrator, Janez Pustatičnik, accuses the two defendants, Arno Schuster and Holger Kowarsch, of failing to properly fulfill their duties in the insolvency proceedings, which is said to have caused significant damage to creditors. The two former managing directors of the airline, which was owned by the German fund 4K Invest until its collapse, deny these allegations. Neither the plaintiffs nor the defendants were personally present at the hearing, which took place before the District Court of Kranj; only their lawyers appeared. The parties reportedly agreed to mediation. Adria Airways went bankrupt in 2019 due to high debts, and the bankruptcy administrator recognized claims totaling EUR 88 million, only part of which has been settled so far. The proceedings will examine the extent to which those responsible at the airline correctly performed their duties in relation to the insolvency. The outcome of the case is still open and the timetable for the final resolution of the conflict remains unclear.