Alpine Holding

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Alpine Holding

logo
legal form GmbH
founding 1965
resolution 2013
Reason for dissolution insolvency
Seat Wals near Salzburg
management Arnold Schiefer (Chairman of the Board)
Juan Bejar Ochoa (Chairman of the Supervisory Board)
Number of employees 15,294 (2011)
Branch construction
Website www.alpine.at

The Alpine Holding GmbH was formed with the Alpine Bau GmbH, a unit based in Wals in Salzburg , the capital of the Spanish FCC was held Corporation. On June 19, 2013, Alpine Bau filed for bankruptcy. The business is closed. There are suspected economic crimes related to the company's bankruptcy.

The most important companies in the group were Alpine Bau, Alpine BeMo Tunneling, Universale-Bau and GPS (foundation, pile and special structures) and Alpine-Energie . In 2008, Alpine was the second largest construction group in Austria with a construction output of around 3.5 billion euros and 15,530 employees.

activities

Alpine’s activities covered the entire spectrum of construction. Initially specializing in civil engineering and road construction, over the years all construction sectors have become Alpine’s field of activity. The geographical area of ​​work - starting from Wals-Siezenheim in Salzburg - had expanded across Central and Eastern Europe to China.

history

Alpine was in 1965 by the brothers George Pappas and Dimitri Pappas founded and started with initially 28 employees. From 1968 Dietmar Aluta-Oltyan and from 1972 Otto Mierl joined the management of the company.

Alpine developed into one of the largest construction companies in Austria as early as the 1970s. In addition to the branches and branches in Austria, the first foreign branch was founded in Munich in the mid-1980s . In 1982 the company built the “Potamos Nestos” power plant north of the Greek city of Kavala as its first major project abroad . In 1986, Alpine acquired the construction division of the Kapsreiter Group, including most of its construction companies.

Most recently, Alpine also had business relationships with Italy, Greece, the Czech Republic, Slovakia, Poland, Turkey, the United Arab Emirates, Singapore, Vietnam, Croatia, Romania, Bulgaria, Bosnia and Herzegovina, Albania, India, Macedonia, China and the USA.

Between 1996 and 2005 Alpine Bau GmbH took over several companies. At the beginning of 1996, Alpine Bauges. mbH has taken over a majority stake in Mayreder Bau, a traditional company that has more than 100 years of experience in the construction sector. In December 1996, the Alpine-ENergie Society for electrical and industrial companies was founded in Linz as a joint venture between the Alpine Group and Energie GmbH from Germany.

In 2002 Universale Bau GmbH was taken over. Furthermore, the shares of the Blättchen family in Energie GmbH were taken over, thereby creating the Alpine-Energie Group with national companies in Austria, Germany, Switzerland and Luxembourg as a subgroup of Alpine Bau. In 2005, Alpine acquired 100 percent of the Stump Spezialtiefbau company - thus doubling the previous volume of specialist civil engineering. In the same year, the company hit the headlines due to a scandal surrounding the award of contracts for the Allianz Arena in Munich.

The Spanish group of companies Fomento de Construcciones y Contratas (FCC) took over the shares of the majority owner and founder family Pappas in 2006 .

On September 1, 2007, the company name Alpine Mayreder Bau GmbH was changed to Alpine Bau GmbH . On August 1, 2008, Alpine Bau took over the special hydraulic engineering company Wasser-, Tiefbau und Pamming GmbH Stuttgart (WaTi).

In 2009, Alpine took over the Tyrolean tunneling specialist Beton- und Monierbau Gesellschaft mbH (BeMo) with 260 employees in 2008 and a turnover of 100 million euros. On December 17, 2009 the name change of this GmbH to Alpine BeMo Tunneling GmbH was entered in the commercial register. In the same year, the Alpine-RZDstroy joint venture was founded in Austria by the two companies Joint Stock Company (JSC) RZDstroy , a construction subsidiary of the Russian railway company RŽD , and Alpine Bau GmbH. The company aimed to jointly implement infrastructure projects in Russia, Austria and third countries.

In 2012 the Spanish FCC took over the remaining shares from Aluta-Oltyans and thus owns 100 percent of Alpine Holding. In October 2012 it became known that Alpine was experiencing liquidity problems. These are to be remedied through the supply of liquidity by the FCC and credit institutions, deferrals and the sale of parts of the company (Alpine Energie / Grund-, Pfahl- und Sonderbau / Hazet). A standstill agreement was signed with the banks on November 9, 2012. On March 27, 2013, a comprehensive restructuring agreement was signed by the group companies and the creditors. The agreement ran until March 31, 2015. The creditors - around 50 Austrian and foreign banks - agreed to a debt waiver of 150 million euros and the Spanish parent company FCC injects a total of 246 million euros into its subsidiary.

After it was reported on the morning of June 18, 2013 that the banks had apparently agreed to a further debt reduction, it was reported in the evening that Alpine Bau was going bankrupt. The bankruptcy petition was filed the following day.

Alpine Bau GmbH's assets were valued at 661 million euros and its debts at 2.562 billion euros. As of the end of August 2013, it was found that the bankruptcy claims amount to over 4 billion euros.

For some areas of the Alpine there were regional catch-all solutions. So took the Habau (are taken about 820 employees) (the fifth largest construction company in Austria) the areas Road East, road and building construction Upper Austria Upper Austria. The civil engineering division in Salzburg went to Hinteregger & Söhne (associated with the takeover of around 100 employees). Swietelsky (the fourth largest construction company in Austria) took over construction sites in Carinthia, parts of Upper Austria and Salzburg as well as Hochbau Ost (approx. 500 employees will be taken over). Tyrol and Industriebau Salzburg go to Hans Bodner Bau (about 400 employees affected). There are also three smaller takeovers.

Some subsidiaries have also already been sold:

  • Hazet Bau to Bauservice Fuhs GmbH (majority), a Hazet manager and another construction company
  • Schauer railway construction at Swietelsky
  • Universal construction at Bahnbau Wels GmbH
  • Ökotechna Entsorgungs- und Umwelttechnik GmbH to Habau
  • Straka Bau GmbH to Habau
  • Klöcher BaugmbH to Granit GmbH
  • Konrad Beyer & Co Spezialbau GmbH to KEM Bau GmbH
  • Alpine Bemo Tunneling GmbH to Metrostav
  • Alpine Switzerland to Renaissance Construction AG
  • Alpine Mayreder Construction Co., China to the Zech Group
  • Grund- Pfahl- und Sonderbau GmbH to Porr
  • Stump to Porr
  • Alpine Energie to the Triton investment fund

At the beginning of July, the trustee applied for the closure of Alpine Holding because, according to the Austrian Association of Credit Reforms (ÖVC), a “restructuring of the debtor is neither intended nor possible”.

Alpine Holding has debts of around EUR 700 million (of which EUR 290 million from bonds and the remainder mainly from liabilities to lenders of the Alpine Group). The assets consist of various investments and loans to subsidiaries. The main (indirect) holding is Alpine Bau GmbH.

Attorney Eric Breiteneder has reported 5 Alpine managers on suspicion of fraudulent Krida . Furthermore, there is a suspicion that Alpine's balance sheets may have been incorrect.
In November 2014, the Financial Market Authority (FMA) imposed fines of EUR 84,000 each on three former Alpine managers for failing to make an ad hoc report about the Group's poor financial situation in 2012.

Litigation financier Advofin examined a class action lawsuit but decided against it because it was not clear who could pay the damage. Nevertheless, the law firm Benedikt Wallner, among others, tried to set this up in cooperation with the Association for Consumer Information. The auditors, the supervisory board, the management, the banks concerned and the Luxembourg financial supervisory authority CSSF are seen as addressees of liability . According to a report by tax advisor Manfred Biegler, the banks knew about Alpine’s financial problems as early as 2010. In April 2015 it was announced that a litigation cost financer could still be found (namely Erste Allgemeine Schadenhilfe (EAS)) to finance lawsuits against the banks.

Alpine Holding's trustee sued the former parent company of Alpine Holding, FCC, for € 186 million.

Alpine Bau's trustee has already filed a lawsuit against the FCC for an amount of 75 million euros.

In December 2014 , a house search was carried out at Alpine’s auditor, Deloitte . Investigations into fraud and balance sheet falsification are ongoing .

As of June 2016, an initial quota of five percent is to be distributed for Alpine Bau.

Individual evidence

  1. ^ Edict accessed on March 15, 2015
  2. ↑ Alpine: The group management of ALPINE ( Memento of the original from May 11, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.alpine.at
  3. ↑ Annual Report 2011 ( Memento of the original from March 10, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 12.8 MB)  @1@ 2Template: Webachiv / IABot / www.alpine.at
  4. ↑ The history of the Alpine Group ( Memento of the original from June 23, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved May 23, 2010  @1@ 2Template: Webachiv / IABot / www.alpine.at
  5. ↑ Alpine Construction: Hundreds of millions are at stake , profil online, October 13, 2012
  6. ↑ Alpine Bau - Breathe easy on the bond markets , Format Trend, October 19, 2012
  7. ↑ Alpine wants to sell parts of the company orf.at, October 19, 2012
  8. ↑ Future of Alpine secured for the time being , orf.at, 10 November 2012
  9. ↑ A successful haircut at Alpine . The March 27, 2013 standard
  10. ^ Wiener Zeitung of June 18, 2013
  11. ↑ Report to the ORF
  12. ^ Report of the Salzburger Nachrichten
  13. ↑ Insolvency information of Creditreform Austria from June 19, 2013 ( PDF  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this note. , 84 kB).@1@ 2Template: Dead Link / www.creditreform.at  
  14. ↑ Current status of ALPINE insolvency ( Memento of the original from September 3, 2013 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. . KSV of August 30, 2013.  @1@ 2Template: Webachiv / IABot / www.ksv.at
  15. ↑ a b Top 150 Austrian Construction Companies 2011 ( Memento of the original from January 11, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / www.solidbau.at
  16. ↑ ALPINE Bau GmbH - Group insolvency ( Memento of the original from June 29, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , KSV -Insolvenzticker - message from July 3, 2013 with update from July 17, 2013.  @1@ 2Template: Webachiv / IABot / www.ksv.at
  17. ↑ a b ALPINE Bau GmbH - Group insolvency ( Memento of the original from June 29, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , KSV insolvency ticker - notification from July 15, 2013  @1@ 2Template: Webachiv / IABot / www.ksv.at
  18. ↑ ALPINE Bau GmbH - Group insolvency ( Memento of the original from June 29, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , KSV insolvency ticker - notification from July 16, 2013  @1@ 2Template: Webachiv / IABot / www.ksv.at
  19. ↑ a b Ökotechna and Straka Bau sold to Habau , Der Standard, July 18, 2013
  20. ↑ ALPINE Bau GmbH - Group insolvency ( Memento of the original from June 29, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. KSV insolvency ticker - notification from July 22, 2013  @1@ 2Template: Webachiv / IABot / www.ksv.at
  21. ↑ ALPINE Bau GmbH - Group insolvency ( Memento of the original from June 29, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , KSV insolvency ticker - notification of July 24, 2013  @1@ 2Template: Webachiv / IABot / www.ksv.at
  22. ↑ a b Alpine bankruptcy: Tunnel business sold , Der Standard, July 26, 2013
  23. ^ Company-AMCC. Retrieved February 22, 2020 .
  24. ↑ a b Porr takes over two other Alpine companies , Der Standard, August 2, 2013
  25. ↑ Triton investment fund swallows Alpine Energie , Kurier, August 13, 2013
  26. ↑ Alpine Holding is closed , APA report on derstandard.at from July 9, 2013.
  27. ↑ Bankruptcy proceedings opened for Alpine Holding GmbH!  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , KSV notification of July 2, 2013@1@ 2Template: Dead Link / www.ksv.at  
  28. ^ First criminal complaint after Alpine went bankrupt ( memento from July 19, 2013 in the Internet Archive ), Wirtschaftsblatt, July 17, 2013
  29. ↑ a b Alpine bankruptcy: Reviewer encountered inconsistencies in annual financial statements , profile, August 3, 2013
  30. ↑ Insolvent construction giant Alpine in the FMA's sights , Der Standard, November 28, 2014
  31. ^ Alpine: Investor Lawsuits Are Pointless , Die Presse, June 20, 2013
  32. ^ Alpine bankruptcy , Benedikt Wallner lawyers
  33. ↑ Alpine construction bankruptcy - Did the banks know about the financial weakness as early as 2010? Wirtschaftsblatt, July 25, 2014, archived from the original on July 28, 2014 ; Retrieved September 17, 2014 .
  34. ↑ http://www.schadenshilfe.com/ "First General Damage Help website
  35. ↑ Alpine construction bonds: litigation financier supports investors in lawsuits against banks. Wirtschaftsblatt, April 26, 2015, archived from the original on May 18, 2015 ; accessed on May 10, 2015 .
  36. ↑ a b Alpine bankruptcy: parent company FCC is sued for 186 million. Courier, January 29, 2015, accessed January 31, 2015 .
  37. ^ Causa Alpine: raid on auditor Deloitte. Der Standard, February 3, 2015, accessed February 3, 2015 .
  38. ↑ Alpine-Bau creditors see their first money three years after major bankruptcy. In: salzburg24.at. June 15, 2016, accessed June 15, 2016 .

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