Austria Klagenfurt has been opened insolvency proceedings. The Creditors' Association of 1870 announced on Friday that the first creditors' meeting will take place on March 31. The Klagenfurt club finished last season in the Bundesliga and are currently in the 2nd league in 11th place. The club has been struggling with financial problems for a long time. The license for the current season was obtained by the Klagenfurt Austria in April of the previous year only in second instance, and due to the late submission of the consolidated balance sheet, a deduction of three points was made in the current season. This sets a tradition in Klagenfurt: in 2008, the FC Kärnten, in 2010 Austria Kärnten went bankrupt. The club has been struggling with financial problems for a long time. The license for the current season was obtained by the Klagenfurt Austria in April of the previous year only in second instance, and due to the late submission of the consolidated balance sheet, a deduction of three points was made in the current season.