Home » Business » The Signa Real Estate Conglomerate: Bankruptcy Proceedings, René Benko’s Financial Circumstances, and the Role of Wolfgang Peschorn

The Signa Real Estate Conglomerate: Bankruptcy Proceedings, René Benko’s Financial Circumstances, and the Role of Wolfgang Peschorn

A lot is still happening at the insolvent real estate conglomerate Signa. Next Monday, the major companies Prime and Development will vote on restructuring plans, and just last Friday bankruptcy proceedings were opened against Signa founder René Benko.

Wolfgang Peschorn, head of the Financial Procuratorate and thus, to a certain extent, lawyer for the Republic of Austria, plays a central role. After all, it was his authority that filed for bankruptcy against Benko in January. In the ORF program Report he commented on the matter on Tuesday.

Peschorn emphasized the complexity of the procedure several times. “Insolvent does not have to mean having no assets,” the official clarified – “you can own a lot of properties.” It is now the primary task of the liquidator to “determine Benko’s financial circumstances”. Ultimately, it is “a question of attribution as to what wealth is.”

The behavior of finance is also examined

Peschorn left no doubt about his own doubts. “I believe that money cannot disappear,” said the head of the Financial Procuratorate in clear words to the man who until recently was regularly referred to as a billionaire. It is crucial to clarify the question of “who can handle this asset”.

Peschorn’s authority itself is working on a “structured investigation” into the Signa matter. The aim is to “bring light into the darkness step by step”. Part of the investigation is also whether one has “behaved correctly as a financer” in the past. Peschorn did not want to answer how high René Benko’s financial debts are. “We are probably not Mr. Benko’s biggest creditors,” he then let it be known.

2024-03-12 22:45:28
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