Image: HANS KLAUS TECHT (APA)
René Benko’s Signa Group has rejected German trade expert Gerrit Heinemann’s statements in the Ö1 “Mittagsjournal” about a possible insolvency as a “factually contradictory statement” that is “massively damaging to credit”. There is no public interest in the claims of the “alleged trading expert”, especially since he has no direct information about Signa and there is no contact with him, Signa lawyer Peter Zöchbauer told the APA.
The Signa Group, with total assets of 27 billion euros, remains opaque. This week, real estate investor René Benko handed over the chairmanship of Signa Holding’s advisory board to the German restructuring expert Arndt Geiwitz. Geiwitz exercises Benko’s previous voting rights – but what legal construct lies behind this is unclear. Even after Signa mastermind Benko was disempowered by his billionaire investors, many questions remain unanswered about the ailing real estate and trading group. Repeated requests from the APA for comments on the events at the top of the group of companies remained unanswered.
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According to media reports, over the next few weeks the Geiwitz team and two law firms will be looking at the most important real estate areas of Signa, whose total assets are estimated at 20 billion euros. They examine further business prospects for buildings – i.e. where something can be earned and where there are potential buyers. Discussions are being held in Europe and the Arab world with potential donors.
The newspaper “Presse” (Thursday) raises the question of whether Benko, despite having had no actual operational function in his life’s work for years, might not have been a “de facto managing director” who could face liability issues in the worst case scenario. In any case, observers have no doubt that Benko was in charge until the handover to Geiwitz. Benko indirectly holds the majority of Signa shares through his family foundation.
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