“Punch in the gut’: Bankruptcy stops social housing project. Moorenweis - The Maro cooperative, based in Ohlstadt with projects for self-determined and neighborhood living throughout Upper Bavaria, has applied for insolvency proceedings under self-administration at the Munich district court.
The main reason for the bankruptcy application was a withdrawn financing commitment for a project in Landsham (Ebersberg district) “The lack of funds made it impossible to continue construction for the time being and is putting a considerable strain on the company's liquidity due to upcoming payment obligations,” said Maro.