Austria Klagenfurt will appeal against the insolvency proceedings, as the club cannot understand the opening of the proceedings. The playing operations will continue, despite the financial problems the club has been facing for a long time. Helmut Kaltenegger is to become the new main sponsor and confirmed that the continuation of the club looks good. The opening of insolvency proceedings was like a blow to him, now that everything could be settled. The club is convinced that it will be successful within two to three weeks. The first creditors' meeting will take place on March 31. The club has been struggling with financial problems for a long time and was relegated from the ADMIRAL Bundesliga last season. Austria's main shareholder, Zeljko Karajica, stated that they were still convinced on Thursday evening that they could avert the insolvency proceedings. They will now appeal, because they believe and know that they are solvent. In total, they have proven to have funds in the millions. The playing operations of the teams and the youth department will continue unchanged. They not only want to continue playing in the current season but also create the conditions to obtain the license for the upcoming season. The opening of insolvency proceedings is a setback for the club, but they are confident that they can continue the playing operations.