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Insolvency proceedings opened against Zizoo Germany

After the public prosecutor’s office in Berlin investigated the managing director for fraud and delaying insolvency proceedings, the Charlottenburg District Court has now initiated preliminary insolvency proceedings.

It seemed only a matter of time: After the German subsidiary of the online charter platform Zizoo had been massively depriving customers of their funds for more than six months by not forwarding them to the charter fleets, the Charlottenburg District Court has now initiated insolvency proceedings against the company. Lawyer Dr. Philip Grauer, located at Hausvogteiplatz 11, 10117 Berlin, has been appointed as the insolvency administrator. Creditors are now urged to assert their claims there as soon as possible. The file number is 36z IN 813/24.

YACHT extensively reported on the case (YACHT 25/2023), with more than a dozen readers who had been deprived of their deposits contacting the editorial office. Additional similar cases were found on online review platforms such as Trustpilot or TripAdvisor, not exclusively from German customers. In recent months, several affected parties had already engaged lawyers and in some cases obtained enforcement orders. Until the end, managing director Anna Banicevic continued to reassure customers and promised refunds at the beginning of this year. Since these refunds were mostly not forthcoming, some affected individuals had also filed criminal complaints against the Croatian woman, and the Berlin public prosecutor’s office recently initiated an investigation into fraud and delaying insolvency proceedings. The outcome of this investigation could be important for creditors if the claims from the insolvency estate cannot be satisfied, which is quite common in the case of insolvent charter agencies.

According to its own statements, Zizoo is one of the “world’s leading online agencies” in the charter market. The online start-up founded by Croatian Anna Banicevic has reportedly raised about $30 million in various rounds of investment over the years. As part of its growth, Zizooboats GmbH was also founded in Berlin in the spring of 2017, with the Croatian woman as managing director. Only the German subsidiary GmbH in Berlin is affected by the insolvency, while Zizoo’s headquarters are in Austria. The company’s website is still online.

Original article read HERE

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