Now the real estate developer Lukas Neugebauer has also been hit. Bankruptcy proceedings have been opened over the assets of the 32-year-old Viennese entrepreneur (he runs the LNR Group), as the creditor protection associations Creditreform, KSV1870 and AKV reported.
“With Lukas Neugebauer, another prominent real estate developer has become insolvent, having failed due to the current market challenges,” says Creditreform boss Gerhard Weinhofer. In addition to the collapse of Rene Benko’s Signa Group, the VMF/VKM Group, Imfarr and BBB Immo in Vienna and the Ortner-Real Group in Linz are among the major bankruptcies of recent times.
Two companies in Neugebauer’s environment, B&R General Contractor and LNR Development, had already gone bankrupt this year. At the beginning of October, he nevertheless reported “impressive progress” on the “prestigious renovation of the former telegraph office in Vienna’s seventh district.” After restructuring, ongoing real estate projects would “move forward unhindered.”
According to KSV1870, two creditors have now filed for bankruptcy against Neugebauer. He is a partner in five companies and managing director of more than 30 companies. The debt amounts to 94 million euros, 32 creditors are affected.
The reasons for the slide into insolvency and the exact financial situation would have to be determined in the course of the procedure, says the AKV.
