Fellner Wratzfeld & Partner (fwp) provided legal advice to around 38% of the creditors affected by the restructuring plan in the restructuring proceedings of Pierer Industrie AG. As part of the vote on the restructuring plan of the KTM parent company, the plan was accepted. At the same time, collateralisation measures were agreed both for the represented creditors and for all other creditors as beneficiaries.

Yesterday's restructuring plan meeting in the Pierer Industrie AG restructuring proceedings was the first time in Austria that a vote was held on a restructuring plan in accordance with the Restructuring Ordinance (ReO). fwp assisted around 38% of the creditors affected by the restructuring plan. In addition to approval of the restructuring plan, collateralisation measures were also agreed which benefit both the creditors represented by fwp and all other creditors.

The restructuring plan meeting in the Pierer Industrie AG restructuring proceedings represents a significant milestone in Austrian restructuring practice: For the first time since the law implemented to deal with corporate financial crises came into force in 2021, a restructuring plan was voted on and successfully accepted by the creditors.

The successful acceptance of the restructuring plan on 20 February 2025 was also of great importance for Pierer Industrie AG subsidiary KTM AG. The successful acceptance of the creditors was an important step towards stabilising the company. At the same time, this creates a solid basis for the upcoming reorganisation of the subsidiary KTM AG.

‘With the agreement reached on collateralisation, we were able to create a solution that benefits both the creditors represented and all other creditors. Moreover, the acceptance of the restructuring plan is not only decisive for the stabilisation of Pierer Industrie AG, but also for the continued existence of KTM AG’, says fwp partner Markus Fellner, who is advising creditors in the restructuring proceedings with his team.