Zizooboats GmbH has recently entered insolvency proceedings in both its Berlin and Vienna branches. The involvement of Coparion and Check 24 Ventures in both branches has come to light, as the provisional insolvency administrator in Berlin has taken over the helm and is now responsible for securing and preserving the debtor’s assets by monitoring the debtor.
The Charlottenburg District Court has announced that the provisional insolvency administrator has the authority to collect bank balances, other claims from the debtor, as well as to accept incoming funds. The first report on the insolvency was made by Yacht magazine, although there have been complaints about Zizoo’s business practices in the past, including unpaid boat rentals and refunds for cancellations and failed boat rentals.
Meanwhile, Viennese lawyer Paul Kessler has filed a bankruptcy petition at the Vienna Commercial Court, which has ordered Zizooboats GmbH to transfer an advance payment of 4,000 euros for the start-up costs of the bankruptcy proceedings and to submit a “completed list of assets” by February 23, 2024. If Zizoo denies insolvency, it must prove that it has paid its creditors or at least entered into installment agreements with them.