Insolvencies in the construction industry as a result of COVID-19

The COVID-19 pandemic is leading to major economic challenges worldwide. In Austria, too, companies in key sectors such as the construction industry have been strongly affected by the crisis. Many companies in the construction industry are currently confronted with declining orders, supply chain interruptions and payment defaults and are suffering losses in sales due to the measures taken to combat the virus, such as construction site closures or plant closures. Therefore, companies involved in construction projects are well advised to know their rights and risks in the event of a contractual partner becoming insolvent in order to take the necessary legal steps and thus be able to exercise their rights in the best possible way.

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