Market value reports in insolvency proceedings
In insolvency or bankruptcy proceedings, the insolvency administrator — appointed in Vienna by the Commercial Court, for example — identifies and sells the assets. To establish an arm’s-length value, a market value report is usually required. I carry out this valuation for insolvency administrators and specialised law firms as a sworn court expert for real estate valuation.
More than a valuation
The report is published in the edicts database of the Austrian judiciary (Ediktsdatei) and is therefore open to inspection by anyone. In addition to establishing the value, it serves interested parties as a first source of information about the property — with details of tenancies, floor areas, plans and photographs. Careful documentation of the property’s key characteristics is therefore an integral part of my work.
Diligence in difficult circumstances
Insolvency proceedings are sometimes marked by difficult and fractured relationships. They demand a special duty of care from the expert as well as legal experience — from dealing correctly with everyone involved to robust documentation. I work primarily with law firms that specialise in insolvency proceedings in Vienna.