In recent news, Zizooboats GmbH Berlin branch is currently under preliminary insolvency proceedings while the parent company, Zizooboats GmbH Wien, also faces insolvency proceedings. Coparion and Check 24 Ventures have been involved in both the Berlin and Vienna branches of Zizooboats. The provisional insolvency administrator in Berlin has taken charge 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 been granted the authority to collect bank balances, other claims from the debtor, as well as to accept incoming funds. Yacht magazine was the first to report on the insolvency, 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.
On the other hand, Viennese lawyer Paul Kessler has filed a bankruptcy petition at the Vienna Commercial Court. The court has ordered Zizooboats GmbH to transfer an advance payment of 4,000 euros for start-up costs of bankruptcy proceedings and submit a “completed list of assets” by February 23, 2024. If Zizoo denies insolvency, it must prove that it has paid its creditors or entered into installment agreements with them.