Zizooboats GmbH, a company with branches in Berlin and Vienna, is currently undergoing 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. The provisional insolvency administrator in Berlin has taken over the helm, tasked with securing and preserving the company’s assets while also 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, the commercial court has ordered Zizooboats GmbH to transfer an advance payment of 4,000 euros for bankruptcy proceedings by February 23, 2024, along with a “completed list of assets”. If Zizoo denies insolvency, it must provide evidence that it has paid its creditors or entered into installment agreements with them.