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The waggon rental company European Rail Rent Vermietungs GmbH came to an arrangement with it’s creditors. In September 2014 a clearance was initiated, after the company had finacial problems because of interest rate swaps.
The clearance is a special form of insolvency law in Austria. If a company requests such a proceeding it stays in business but is watched by a public official. The clearance against ERR was canceld on the 25.06.2015. Five out of eight investors stay with the company and all lawsuits have ended, since ERR continuously stayed profitable during the process.
The ERR Rail Rent Vermietungs GmbH owns 4.000 waggons. They are a user of the logistics software ECHO and since more than 10 years our customer.
