At the top of 2023, the state of affairs surrounding the Signa Group deteriorated quickly.
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According to Austrian media reviews, the opposite two Signa firms are bancrupt.
Signa Prime Beteiligung GmbH and Signa Prime Holding GmbH utilized to the Commercial Court of Vienna to reorganize the method with out self-regulation, reviews the “Kurier”.
Both firms have money owed working into the thousands and thousands and don’t count on any monetary assist from the present shareholder group, based on the newspaper.
René Benko’s empire continues to crumble. It’s noisy Austrian press reviews Signa Prime Beteiligung GmbH and Signa Prime Holding GmbH have now opened restructuring procedures.
According to the Austrian Credit Protection Association (KSV), each firms have utilized to the Commercial Court of Vienna to reorganize the procedures with out self-regulation. KSV is an impartial state, financial and political creditor safety group. Debts working into the thousands and thousands are the trigger, which two funding firms can now not use.
According to KSV, the money owed of Signa Prime Beteiligung GmbH quantity to 37.5 million euros. At Signa Prime Holding GmbH, nevertheless, issues are trying very promising. It apparently has money owed of 1.275 billion euros. Liabilities embrace claims from firms linked to the debtor and claims from tax authorities.
“The debtor is an funding firm that acts as a ‘central holding firm’,” “Kurier” quotes KSV as saying. The said motive for the shortfall was that the businesses would now not count on any distribution of income from their investments or any cash from their shareholders within the quick time period. The restructuring course of may start quickly.
“It might be assumed that quickly the taxpayers’ courtroom will probably be opened as a restructuring plan with out self-control. The credit score supervisor, who has but to be appointed, should see if the restructuring efforts might be maintained,” mentioned Jürgen Gebauer from KSV.
By the top of 2023, the state of affairs across the Signal Group rapidly elevated. Unexpected building halts on the Group’s prestigious building tasks, partly because of non-payment of exterior service suppliers. Soon after, a number of well-known traders within the Signa Group requested René Benko to resign. Then he fulfilled this want.
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