Zizooboats GmbH Berlin branch has entered preliminary insolvency proceedings, with insolvency proceedings already pending against the parent company in Vienna. Coparion and Check 24 Ventures have been involved in both branches of Zizooboats. The provisional insolvency administrator in Berlin has taken over the helm and is now responsible for securing and preserving the debtor’s assets by monitoring the debtor.
Yacht magazine was the first to report 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 at least entered into installment agreements with them.