Image: HELMUT FOHRINGER (APA)
The financial prosecutor, as the Republic’s lawyer, had previously demanded a higher financial contribution from the former Kika/Leiner owner Signa and criticized the fixed settlement. Insolvency administrator Volker Leitner will also inform the meeting about the status of the restructuring. According to the original restructuring plan proposal, the approximately 450 creditors should receive a quota of a total of 20 percent, payable within two years at the latest. By mid-August, the Kika/Leiner creditors and the workforce had registered claims amounting to 93 million euros, of which around 46.5 million euros were attributable to the Republic of Austria (tax office).
In mid-September it was also announced that the former Kika/Leiner owner Signa and the Tyrolean investor Rene Benko were paying 20 million euros into the insolvency pot in four installments within two years and had further claims to deal with. Signa has already transferred the first partial amount of 5 million euros. “The settlement that has now been decided is too small and the amounts do not reflect corporate responsibility,” criticized Finanzprokuratur President Wolfgang Peschorn recently. Shortly after the Signa Group sold the operational Kika/Leiner business to the trading manager and investor Hermann Wieser, the furniture chain filed for bankruptcy in mid-June. The Graz Supernova Group bought the furniture store properties.
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