Zizooboats GmbH, a company with branches in both Berlin and Vienna, is currently facing preliminary insolvency proceedings against its parent company in Vienna. This has led to involvement from Coparion and Check 24 Ventures in both the Berlin and Vienna branches of Zizooboats. In Berlin, the provisional insolvency administrator has taken over, tasked with securing and preserving the company’s assets while monitoring its financial activities.
Meanwhile, complaints about Zizoo’s business practices have been reported, including instances where boat rentals that were paid for were not passed on to the charter companies, and refunds were not issued for cancellations or failed boat rentals. These issues have led to legal action, with a Viennese lawyer filing a bankruptcy petition at the Vienna Commercial Court.
As a result of this legal action, the commercial court has ordered Zizoooboats GmbH to transfer an advance payment of 4,000 euros for bankruptcy proceedings by February 23, 2024. Additionally, they must provide a “completed list of assets.” If Zizoo denies insolvency, they must provide evidence that they have paid their creditors or entered into installment agreements with them.