Individual bankruptcies are generally an unpleasant thing. This is no different in Austria than in Germany. Your bank account is blocked and you are only allowed to keep the car if it is not worth more than 2000 euros and you absolutely need it for your job. The property is usually gone too. It is considered part of the assets and is therefore usable, as it is called in legalese. In other words: it will be seized by the insolvency administrator and then foreclosed on. Should we be seriously worried about René Benko now?
René Benko’s bankruptcy: What really belongs to him? – Business
