Image: APA/AFP/JOE KLAMAR
The first creditor meetings of the insolvent real estate companies Signa Prime and Signa Development will take place next Monday at the Vienna Commercial Court. As of Friday, there was no information as to whether the 350 million euros demanded by new Signa boss Erhard Grossnigg by January 15th would be matched by shareholders such as Rene Benko.
So far, only Signa investor Hans Peter Haselsteiner has signaled that he would consider a capital injection. This is “possible if everyone agrees,” Haselsteiner told OÖNachrichten at the end of December. The money is intended to ensure self-administration restructuring procedures and avoid emergency sales. Everything is still pending, Haselsteiner said on Friday.
Hoping for answers
Signa Prime insolvency administrator Norbert Abel and Signa Development restructuring administrator Andrea Fruhstorfer will inform creditors on Monday about the status of the insolvency proceedings and the financial plan.
Cornelia Wesenauer from the Alpine Creditors Association (AKV) has high hopes for the two dates, especially from the perspective of Signa Holding, which is also insolvent.
In order to raise money for the continued existence of the holding company, the furniture from the Signa Holding headquarters in Vienna is currently being auctioned off. According to “Standard”, some of the proceeds from the auction will go to the foundation of Billa founder Karl Wlaschek. Signa Holding is likely to have rent arrears with a Wlaschek company.
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