Signa: Insolvency administrator denies 99 percent of claims

At the eagerly awaited insolvency meeting of the parent company Signa Holding, Stapf explained today who is demanding how much money from Signa Holding. However, he considers the coveted 8.613 billion euros to be unrealistic.

• more on the subject: Signa Development receives 25 million euros in equity loan from Haselsteiner

Of the 8.6 billion euros, 5.1 billion euros relate to liability claims (from guarantees and letters of comfort) and 1.6 billion euros from intra-group payments, for example loans between the Signa companies. The insolvency administrator denies all of these claims. The same applies to claims for damages and fees. “Some of these claims in a relevant amount are currently leading to an inflated claim amount, but according to an initial assessment they will probably not stand up to a strict assessment,” says Stapf, who is also critical of the quality of the claim submissions. The applications were submitted either late or after the registration deadline, and a third were submitted without submitting the relevant documents or without stating the reason for the claim at all.

Video: Creditors want around 8.6 billion euros from Signa Holding

Creditors can assert claims

The creditors can make improvements in the next two months and assert their claims in the insolvency court. He will continually review this and respond accordingly. If the affiliated companies do not receive their money from the holding company, this will have serious economic consequences for many of them. The new date for the holding’s restructuring meeting is now April 29th. Until then, continuation is assured.

This is also because the sale of non-essential assets continues. Signa has already moved out of the company headquarters. Rene Benko has already transferred two of the promised three million euros from his private assets. Discussions are ongoing regarding the sale of shares in Kronen Zeitung and Kurier. Otherwise it is about valuations, but also the exchange of information between the Signa companies, which Stapf considers to be in need of improvement.