ECM Real Estate Investments A.G. is

bankrupted Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...

real estate developer Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to other ...

based in

Luxembourg Luxembourg, officially the Grand Duchy of Luxembourg, is a landlocked country in Western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France on the south. Its capital and most populous city, Luxembour ...

, that was active mostly in

Czech Republic The Czech Republic, also known as Czechia, and historically known as Bohemia, is a landlocked country in Central Europe. The country is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the south ...

, but also in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It extends from the Baltic Sea in the north to the Sudetes and Carpathian Mountains in the south, bordered by Lithuania and Russia to the northeast, Belarus and Ukrai ...

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

. Company was founded in 1991 by Michal Janků, he is now still its

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

and through ECM Group N.V. largest shareholder (77%) of the company.ECM 2010 Annual Report
/ref> Company owned inter alia two tallest buildings in the Czech Republic - City Tower and City Empiria. In 2006 company went on

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

Prague Stock Exchange Prague Stock Exchange (PSE; ) is the largest and oldest securities market organizer in the Czech Republic. It is a 99.54 percent-owned subsidiary of Wiener Börse AG. PSE and its subsidiaries comprise the PX group. In addition to the Stock Exch ...

with price per stock 1,318 CZK (47 EUR), getting market capitalization 262.7 mil. EUR Stocks became part of PX Index and eventually reached price 2,000 CZK per share. Mainly as result of the

Great Recession The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009.

, the company went bankrupt in May 2011 and went into

liquidation Liquidation is the process in accounting by which a Company (law), company is brought to an end. The assets and property of the business are redistributed. When a firm has been liquidated, it is sometimes referred to as :wikt:wind up#Noun, w ...

in July 2011. In 2012 liquidation was changed to reorganization,https://isir.justice.cz/isir/doc/dokument.PDF?id=3960489 but reverted to liquidation in February 2013.Prague Monitor: Prague court declares developer ECM bankrupt
/ref> Before its bankruptcy, ECM was involved in the development of V Tower in Prague.

Financial data

References

{{Authority control Real estate companies of the Czech Republic Real estate companies of China Defunct companies of Luxembourg Real estate companies established in 1998 Real estate companies disestablished in 2011