BPV Huegel has helped Austrian low-cost airline Level Europe GmbH initiate and implement judicial insolvency proceedings at the Regional Court of Korneuburg.
According to bpv Huegel, "although booking figures and revenues developed as expected and as planned in the fourth quarter of 2019 and in the months of January and February 2020, this revenue development was halted by the Covid-19 pandemic and the associated entry restrictions and booking slumps. Regular flight operations [have] been suspended since March 2020 due to the Covid-19 pandemic. For this reason, an insolvency application was filed."
BPV Huegel's team was led by Partners Bernhard Schatz and Elke Napokoj and included Partner Michaela Pelinka and Attorney at Law Walter Niedermuller.