Insolvency proceedings are currently underway for both the Zizooboats GmbH Berlin and Vienna branches. The involvement of Coparion and Check 24 Ventures in both branches has been revealed, with the provisional insolvency administrator in Berlin taking over and being responsible for securing and preserving the debtor’s assets.
The Charlottenburg District Court has granted the provisional insolvency administrator authority to collect bank balances, other claims from the debtor, and accept incoming funds. It was Yacht magazine that first reported on the insolvency, although there have been complaints about Zizoo’s business practices in the past, including unpaid boat rentals and refunds for cancellations and failed boat rentals.
Viennese lawyer Paul Kessler has filed a bankruptcy petition at the Vienna Commercial Court, which has ordered Zizooboats GmbH to transfer an advance payment of 4,000 euros for the start-up costs of the bankruptcy proceedings and to submit a “completed list of assets” by February 23, 2024. If Zizoo denies insolvency, it must prove that it has paid its creditors or entered into installment agreements with them.