What the next bankruptcy in the Signa Group has to do with ex-Chancellor Kurz

The liabilities amount to 23.3 million euros (liquidation value) with assets of 213,000 euros. Four employees and 24 creditors are affected. One of the creditors is probably the company of ex-Chancellor Sebastian Kurz.

As it became known at the beginning of December, Kurz’s company called SK Management still has an outstanding account with Signa SFS. In 2023, the company, then still trading as Signa Lima, was billed for around 2.4 million euros for a successful investor search for the Signa group of companies, of which only 750,000 euros had been paid.

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According to Creditreform, Signa SFS was only founded in 2022 as Signa Lima GmbH and provides financing advice for SIGNA companies with predominantly Austrian credit institutions.

The bankruptcy proceedings were opened at the company’s own request. The Vienna Commercial Court is responsible – although the company is registered in the commercial register in Innsbruck – because the company’s economic focus is in Vienna, writes the AKV.

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“Continuation no longer makes sense”

According to Creditreform, the cause of the insolvency was the “greatly reduced new and refinancing of Signa companies” following the insolvencies of Signa Holding, Signa Prime and Signa Development. This led to financial difficulties and uncertainty at Signa SFS.

There are no plans to continue the company. “According to the company’s own assessment, a continuation no longer makes sense, so the short-term closure should be discussed with the liquidator,” writes KSV1870.

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Creditors can register their claims until March 6th. The first creditors’ meeting as well as the audit and reporting meeting will take place on March 20th. The lawyer Clemens Richter was appointed as insolvency administrator.

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