Bitter bankruptcy of an Austrian star author

“The debtor is no longer able to pay its outstanding obligations, so it is insolvent and therefore ready for bankruptcy,” says this application for opening debt settlement procedures, including acceptance of a payment plan and initiation of fee collection proceedings, which was filed on April 17 in the Vienna Inner District Court – The city has arrived.

In his autobiographical novels, he often wrote about how difficult life was for him. Now he’s already broke: a star author Thomas Glavinic51. The author and essayist filed for bankruptcy through his lawyer in Vienna. The application was submitted on April 12, 2023. The procedure opened on April 22, 2023.

Outstanding liabilities are estimated at €163,000, of which €38,000 is financing, €29,400 is a bank loan and €42,500 is three private loans.

The author wants to pay his creditors a share of 8.47 percent in 60 monthly installments, the first payment one month after accepting the payment plan, and the following installments every month thereafter. The grace period is 14 days.

According to the author’s own information, he is employed by Josef Schellhorn in Bad Hofgastein and earns just over 1,100 euros per month. “In addition, the debtor receives annual bonuses of varying amounts, which are becoming less and less,” says the bankruptcy filing. “Taking into account the net income, the payment plan offered is reasonable, and it is expected that the debtor’s income will be sufficient to cover the costs of the proceedings.”

Debtor Glavinik resides in Vienna.