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After filing for bankruptcy against René Benko: what happens next

After filing for bankruptcy against René Benko: what happens next
Signa founder Rene Benko
Image: Frank Rumpenhorst (dpa)

A court spokeswoman confirmed a corresponding report from ORF Tirol and at the same time emphasized that the meeting was non-public and therefore not open to the media. According to the law, Benko does not have to be present in person. According to APA information, it is unlikely or almost impossible that the Tyrolean investor will still appear at the meeting.

  • Also read: Republic of Austria files for insolvency against René Benko

This happens in the day-to-day meeting

The situation and the financial situation will be discussed in the meeting, and the Benko side will make a confession of assets on Tuesday, as it was said. Then the decision could easily be made quickly. It was unclear whether the insolvency judge would actually make this decision on Tuesday. This is “not set in stone,” said state court spokeswoman Birgit Fink. Ultimately, it must be determined whether insolvency actually exists. If there is no insolvency, the insolvency application will be rejected. The regional court will announce the decision via a media broadcast.

  • You might also be interested in: Magnificent buildings, parties, bankruptcies: How Rene Benko holds a mirror up to the country

According to an online report in the “Standard” from the end of January, the insolvency application is also said to be based on the fact that Benko did not fully meet his obligation to make a deposit of 3 million euros in the holding company’s restructuring process. On the other hand, there are open financial claims against him. His tax advisors are said to have submitted an application for a deferral. According to reports, the finance department already has a so-called arrears certificate in its hands, which can serve as justification for filing for insolvency.

Tax audits are ongoing

It is known that there were lengthy financial tax audits in connection with Benko’s Signa, which were also the subject of chats between Benko and the former Secretary General in the Ministry of Finance, Thomas Schmid, and in the parliamentary U-Committee. There were different opinions between Finanz and Benko’s tax advisors, but an agreement was ultimately reached. Tax audits are currently underway again in the Signa Group.

  • Article on the topic: René Benko: The deep fall of the Tyrolean real estate tycoon

As far as Benko’s guarantee to pay 3 million euros to the mass was concerned, the report by Holding insolvency administrator Christof Stapf revealed that he had paid the first installment himself. The second tranche from January 8th in the amount of 845,000 euros did not come from Benko himself, but was paid for him “by a third party”. The last installment was announced “for this week”, also “from a third party”. It is not known whether the third tranche for the estate or the tax debt has now been paid.

According to “Der Standard”, those involved in the matter do not suspect that the Signa founder cannot pay these amounts. Rather, we are talking about legal considerations. Signa Holding currently only has 6 million euros in its cash register.

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