The Kika/Leiner bankruptcy continues to make waves: While René Benko’s Signa Group has already paid 5 million euros into the insolvency pot, this is met with disapproval by the Republic’s lawyer. “The comparison is too small,” explains Wolfgang Peschorn to the “Krone” – the displeasure is probably no coincidence, because Kika/Leiner has most of its debts to the state.
As it became known today, Tuesday, the Signa Group is spending a total of 20 million euros as insolvency compensation – divided into four installments until the end of 2024; The first 5 million euros have already been paid into the insolvency fund. The members of the creditors’ committee were informed of the step by the furniture chain’s special administrator, Stephan Riel, by email – a Signa spokesman also confirmed the payment. The state is missing almost 50 million. This decision suits the President of the Financial Procuratorate, Wolfgang Peschorn, entirely not. After all, the Republic of Austria is not only the main creditor, the former furniture giant is also heavily in the state’s hands: the tax office alone is missing around 46.5 million euros.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-0969-23”);In addition, there are around 3.5 million euros from the Austrian Health Insurance Fund (ÖGK), 3.9 million euros from the Covid-19 Finance Agency and 12.1 million euros from landlords and banks . In total there are also claims amounting to 93 million euros.Republic overruledThe Republic of Austria did not agree to this settlement, but was overruled by the majority of the members of the creditors’ committee. Peschorn explained in an interview with the “Krone” that the settlement amount is far from appropriate due to the events identified by the administrator in which the Signa Group was involved between 2018 and 2023 – after all, this involves tax money. The Financial Procuratorate had already announced when the insolvency was declared that it would critically examine these processes. “The interests of the taxpayers have been undermined” “The administrator, with the support of a renowned international auditor, has identified several valuable claims totaling well over 20 million euros against various Signa companies and consultants “, says Peschorn. “The settlement that has now been decided is too small and the amounts do not reflect corporate responsibility.” Only shortly after the sale of the operational Kika/Leiner business by René Benkos Signa to the trade manager and investor Hermann Wieser, the furniture chain filed for bankruptcy in mid-June. The Graz Supernova Group bought the furniture store properties. Since then, the furniture chain has been in a restructuring process without self-administration. The events surrounding the purchase and sale within a very short period of time also have a political component – the takeover by the Tyrolean real estate investor is said to have taken place with the active support of the then Federal Chancellor Sebastian Kurz. And further: “It would have been appropriate if Signa Group paid a higher amount to settle these claims. With the approach of the insolvency proceedings, the Finanzprokurator’s efforts to get the Signa Group to make an appropriate payment in the interests of the taxpayers were undermined can be paid off in installments. The creditors would thus grant Benkos Signa a kind of credit and would also bear the risk that the installments would actually be paid. The financial procuratorate has also spoken out against such a settlement with reference to the recommendations of the European Central Bank. Peschorn: “Otherwise you would really have to worry.” Peschorn does not believe that possible financial bottlenecks at the Signa Group should be a decisive factor for payment in installments: “Based on the public appearance of the Signa Group, one should expect that it can pay 20 million euros immediately. Otherwise you would really have to worry.” With the payment now made, the settlement is in any case legally effective. Next Monday (September 25th) the decisive renovation plan meeting for Kika/Leiner will take place at the St. Pölten regional court. The creditors still have to agree to the final restructuring plan proposal.
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