LDB denies accusations of bankruptcy

LDB denies accusations of bankruptcy
© Bahnoperator

At the beginning of July, the Association of Alpine Creditors (AKV) reported that Lienzer Dolomiten Beteiligungsgesellschaft (LDB) had filed for bankruptcy with debts of €4.5 million.

LDB, the holding company of the Railway Operator Group, has denied reports of bankruptcy, claiming that it has never filed for bankruptcy. "The debts mentioned are false. All debts can be paid at any time. This also applies to the subsidiaries," the company said.

The main reason for the allegedly fraudulent bankruptcy filing, as described by the AKV, was the "massively declining order situation in the China-Europe freight traffic". LDB said it was unaware of the filing, which it said was based on "company figures that do not correspond to verifiable facts".

LDB added that the proposal was made behind the backs of the majority shareholders "... and without the involvement of the tax consultancy". They attribute the controversial move to a "former minority shareholder of the company", against whom they will take legal action.

Lienzer Dolomiten Beteiligungsgesellschaft (LDB) holds a majority stake (95%) in Bahnoperator Austria, which rents and leases the rolling stock of TE Bahnoperator. It also owns 100% of Bahnoperator Polska, which holds the licence for rail freight services, and DNS Systems, which provides the software used by the Group to organise rail freight services. LDB also owns 95% of Nöckler Aviation Capital, an aircraft leasing company.

This article originally appeared on our sister publication sektorkolejowy.pl

RM edit (the statement of Bahnoperator): 

Unfortunately, our company has been taken by surprise by what must have been a long-planned campaign to damage our reputation by a former managing director and minority shareholder. This individual filed for bankruptcy behind our backs on the basis of apparently false and fabricated figures. Of course there is no question of insolvency! We have defended ourselves legally and publicly against these attacks, which are enormously damaging to our reputation and our business.

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