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Recession and fuel rates take toll on Austrian hauliers
Page 14
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AUSTRIAN HAULIERS have not escaped suffering in the recession, according to an association that monitors bankruptcies in the country.
Creditors Association A KV Europa says that 68 Austrian hauliers were the subject of bankruptcy investigations in the first quarter of 2009, a 62% increase on the year before.
It says that in many cases the country's courts had rejected legal proceedings to recover money because there were no assets left for creditors to claim.
The creditors association blames increasing competition, both in Austria and from eastern Europe, together with fuel prices and a slump in business for the bankruptcies.
The recession is also badly affecting the amount of money taken in road tolls from trucks by the Austrian motorway company, which says earnings have dropped 16% in 2009 compared to last year.