René Benkos Signa Holding GmbH will file for insolvency at the Vienna Commercial Court today, Wednesday. Accordingly, the real estate and department store speculator wants to achieve a restructuring process with self-administration in order to achieve an “orderly continuation of operational business operations”.
According to krone.at information, René Benko had already fought with all his might in the hours before to retain power in his financially ailing Signa Group: The financial juggler, whose intricate network of companies is known to be threatened by a bankruptcy domino, had his lawyers present at the commercial court to negotiate the settlement of the insolvency of his important Signa Holding.Benko wants to governTenor: Benko wants – under all circumstances – an insolvency “under self-administration”. With such a procedure, his managing directors remain at the controls and he can continue to govern from the background.if(!apaResc)var apaResc=function(a)var e=window.addEventListener?”addEventListener”:”attachEvent”,t,n ;(0,window[e])(“attachEvent”==e?”onmessage”:”message”,function(e)if(e.data[a]) for(var t=document.getElementsByClassName(a),n=0;n!=t.length;n++) t[n].style.height=e.data[a]+”px”,!1); apaResc(“apa-1558-23”);Insolvency experts know: In the case of restructuring proceedings with self-administration, bankruptcy judges and court-appointed insolvency administrators have fewer opportunities to slap the Benko managing directors on the fingers with all the necessary rigor and to discuss possible challenges If, for example, there have been recent emergency sales to the detriment of creditors, Benko’s Signa could continue to spread the cloak of silence about possible dubious deals. Benko came into public conversation on Monday with a luxurious shopping trip. The real estate juggler was photographed by “Bild” returning home from Barcelona to Innsbruck in his oversized Signa private jet at the weekend. His wife was carrying a Chanel handbag for 8,000 euros on her arm. According to media reports, the Signa Group is said to have accumulated a total of 15 billion euros in debt.
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