• Thu. Feb 29th, 2024

Zizooboats GmbH Faces Insolvency: What to Expect from the Proceedings


Feb 13, 2024
Zizoo, a yacht charter platform, encounters a shipwreck

Insolvency proceedings are already pending against the parent company Zizooboats GmbH Wien, and the Zizooboats GmbH Berlin branch has recently entered preliminary insolvency proceedings. Coparion and Check 24 Ventures have become involved in both branches of Zizooboats. The provisional insolvency administrator in Berlin has taken over control and is now responsible for securing and preserving the debtor’s assets by monitoring it.

The Charlottenburg District Court has announced that the provisional insolvency administrator has been granted authority to collect bank balances, other claims from the debtor, as well as accept incoming funds. Yacht magazine was the first to report on the insolvency of Zizoo, although there have been complaints about its 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 start-up costs of bankruptcy proceedings by February 23rd, 2024. If Zizoo denies insolvency, it must prove that it has paid its creditors or entered into installment agreements with them.

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