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Supervisor's report |  Banco demands millions of euros from bankrupt Signa Holding

Supervisor's report | Banco demands millions of euros from bankrupt Signa Holding

To some extent, Signa Holding has served as an umbrella company for the vast and complex Signa Group. It is not surprising that special attention is paid to the holding company's insolvency proceedings. It was announced only on Monday that more than 300 creditors have filed claims totaling €8.6 billion. Particularly stinging: Only €80.3 million of this amount was initially recognized by insolvency administrator Christoph Stapf as “rightfully existing”.

the South German newspaper And the Austrian magazine Introductory account Today, Tuesday, citing the report presented by Stapf at the examinations meeting at the beginning of the week. The letter allows you to understand how the claim amount is determined.

Banco pays 3.3 million euros

For example, a number of companies and organizations attributed to Signa founder Rene Benco or his family are said to have filed suits against the holding company. For example, the Benko Family Private Foundation (75 million euros), the Laura Private Foundation or the Laura Holding (combined about 57 million euros). However, almost none of these demands have been recognized to date. In principle, you now have two months to dispute rejected claims.

At the same time, at this stage the matter becomes very complicated, and Rene Benko himself is supposed to be involved in the restructuring of the holding company. It was recently said that without her support it would not be possible to continue. The insolvency administrator's report now indicates that two tranches of the promised €3.3 million have been paid. According to the profile, the third and final installment “will take place this week.”

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Signa asks Signa

Also on the list of demands: former Chancellor Alfred Gusenbauer, who is also Chairman of the Supervisory Boards of Signa Development Selection (SDS) and Signa Prime Selection (SPS) and also a member of the (now defunct) Advisory Board of Signa Holds. According to the profile, Gosenbauer is claiming €698,358.69, including interest from the insolvent holding company as an individual. and another €5,667,331.23 including interest via Gusenbauer Projektentwicklung & Beteiligung GmbH.

There are also a lot of problems in insolvency proceedings when it comes to so-called “intercompany claims”. Signa Prime recorded around €152 million, development around €485 million. German retail chain Galeria Karstadt Kaufhof Gmbh, which has just gone bankrupt again, wants to claim €209 million. According to SZ, the total amount that Signa's subsidiaries are requesting from the holding company is “1.6 billion euros.”

What about the public sector? From reports from SZ and Profile, it can at least be seen that the tax office wants approximately 900,000 euros. MA6, the accounting and tax department of the city of Vienna, is demanding 25,000 euros. Incidentally, this is only partially recognized at present.

International investors and banks

Incidentally, international investors and banks demand the bulk. For example, Liechtenstein's Ameria Invest AG wants €240 million, and Thai retail giant Harng Central Department Store LTD is demanding €120 million. According to media reports, London-based CG Jersey Retail Limited wants up to 900 million euros.

Last but not least, arbitration claims are still pending against Cigna from Arab sovereign wealth fund Mubadala (UAE) and Qatari company AM1. The holding company demands that both procedures be halted due to insolvency.

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