Signa bankruptcy: Creditors are calling for 11.7 billion euros and processing is running!
Signa bankruptcy: Creditors are calling for 11.7 billion euros and processing is running!
Wien, Österreich - The bankruptcy of the Signa Prime, an important player in the real estate sector, leaves serious traces in the industry. Insolvency administrators are working hard to sell the company's assets after the creditors have claimed claims of a total of 11.7 billion euros. As vienna.at , these are made of unconditional claims of 6.7 billion euros, of which 3.8 billion euros were recognized and 2,9 billion euros are, and conditional claims of around 4.5 billion euros together.
The insolvency administrator, Barbara Abel, is planning the complete handling of the company by the middle of 2026. This period is outlined by the recent -ongoing general meeting, in which, among other things, a special examination of business relationships with the Schoeller Group and the Ingbe private foundation, which includes the period from early 2022 to the end of 2023
management and legal aspects
In order to clarify the complicated legal questions, insolvency administrator Peschorn has legally appealed against the fiduciary settlement procedure at the Vienna Higher Regional Court and the Supreme Court. In a significant judgment, the latter decided that the procedure is downgraded to bankruptcy proceedings. As a result, the management was replaced by a mass manager who can no longer make his own decisions, which for creditors, for example, causes increased risks, for example by a possible dissolution of the control group.
The additional tax effort for Signa Prime is estimated at around 100 million euros, which reduces the satisfaction prospects for the insolvency believers. The credit expectations will remain formative of the creditors, since they largely depend on the recycling of the real estate portfolio and the procedural costs.
real estate sales and financial returns
A central point in the renovation process is the utilization of the most valuable properties, including the Park Hyatt Hotel in Vienna, which is currently for sale. The sales start for further properties, in particular shopping areas and offices in the Vienna Tuchlauben, is scheduled to take place in the coming months. As the Kurier notes, the sale of the Tyrol department store was postponed to eliminate vacancy.
So far, real estate has been sold several times, including 85.5 million euros for Rosenstraße 8 in Munich and the famous KaDeWe in Berlin to the Central Group. Despite a transaction volume of one billion euros in Germany, only 24.4 million euros flowed into the bankruptcy estate of Signa Prime. The return flows from real estate sales are also evident, since loans and financing have to be served.complaints and financial challenges
In addition, contestable payments up to two years before the bankruptcy opening have been identified, with a total of 462 payments worth 478.95 million euros. In this context, 16 complaints were brought in with a value in dispute of 115.86 million euros. It is also pointed out that former board members were sued for repayment of high sums, while shareholders such as Kühne Immobilien Austria and RAG Foundation are also asked to repay dividends.
In the middle of these challenges, the owner René Benko, who goes bankrupt as a sole trader, is not privately. With 2.34 billion euros registered claims, the mass pot was last 1.5 million euros. His monthly revenue of around 3,700 euros is almost completely pounded while receiving support from his family, especially from his mother.The situation around the Signa Prime is a further expression of the current trend in the economic sector, which is characterized by increasing insolvency numbers. According to Statistics Austria , the disease of numerous companies is due to various macroeconomic factors that have been noticeable in recent years.
| Details | |
|---|---|
| Ort | Wien, Österreich |
| Quellen | |