Overview
- Sun Contracting AG declared insolvency on October 31 and five subsidiaries opened bankruptcy proceedings at the Landesgericht Linz.
- Creditor filings indicate roughly €47 million in liabilities against about €16.6–17 million in assets, with 127 creditors affected.
- AKV reports no restructuring is planned and the Austrian companies are expected to be wound down, putting around 33 jobs at risk.
- More than 1,000 retail crowdfunders reportedly hold subordinated loans and are likely to face total losses in the proceedings.
- The group’s contracting model was squeezed by rising build and financing costs and sharply falling, sometimes negative, power prices, with fallout for host customers including farmers in Germany where 34 PV sites are listed.