UPDATE: Cliffhanger confirmed on Steam that the servers will stay up and that a new update for the game is on track.
2nd UPDATE: According to Cliffhanger employee “loquee”, the fate of the company is not yet decided.
UPDATE the 3rd: Couple of new developments you can find in our follow-up story

Cliffhanger Productions, developer of Aerena and the recently launched Shadowrun Chronicles will most likely close its doors. The Austrian studio declared bankruptcy in front of the Viennese Commercial Court and already got assigned a liquidator.

Despite having a rough time with Shadowrun Chronicles during its launch week (wrong listing on Steam, power outage in the office and a missing letter in the configuration file), the game was able to regain the trust of the community fairly quickly and now has a “Mostly Positive” ranking on Steam.
However, with the closure of the studio, which would also lead to 29 people losing their job, there would probably be no more support for the game. This is especially worrying since it only just launched at the end of April and still has some very rough edges.
Creditors can file any claims until July 21st at the Viennese Commercial Court, with an examination hearing following on August 4th.

This is a strong blow to the perpetually endangered Austrian game development scene and I personally wish everyone who lost (or could lose) their job good luck.