The Signa Group of financial juggler Rene Benko is – as krone.at reported several times in recent weeks – in flames: On Friday afternoon it was announced that a bankruptcy application would probably not only be prepared in Signa Holding GmbH, the main group company. According to information from krone.at, the Signa companies are advised by a renowned international law firm.
The most important group companies under the holding company include Signa Prime Selection AG and Signa Development Selection AG, where former SPÖ Chancellor Alfred Gusenbauer is chairman of the supervisory board.
Benko’s artworks are sold
How serious the situation is is evident from the fact that 46-year-old Signa founder Rene Benko has apparently been desperately trying for weeks to sell two of his most valuable works from the art collection through one of his foundations. Spiegel”: It concerns “L’Etreinte” by Pablo Picasso (worth about 17 million euros) and a self-portrait by Jean-Michel Basquiat, which is on the books for about ten million euros.
However, a Signa spokesperson told Spiegel that there was no new situation and that discussions were being held with potential financing partners.
Benko at the center of the investigation committee
Things are also turning unpleasant for Benko on another front. The “COFAG Commission of Inquiry” is investigating whether people were given priority when awarding Corona aid. The focus is on Benko and entrepreneur Siegfried Wolf.
The inquiry committee could be set up in December before Christmas. By the beginning of next year at the latest, the ÖVP would “delay this by using all legal tricks,” said SPÖ finance spokesman Jan Krainer. The surveys among respondents could then take place in March or April. “It will be a very short, compact committee,” Krainer said. By law, this must end approximately three months before the National Council elections.
SPÖ and FPÖ identify “government of two classes”
By the way, “COFAG Committee” is just a short name, as other areas can also be investigated. Specifically, the SPÖ and FPÖ call for a “committee of inquiry into two-level governance, because ÖVP government members prefer billionaires.”
Pilnacek’s statements could also become a problem
“It was clear from the start that we needed to take a closer look at the COFAG issue,” said Christian Hafenecker, secretary general of the FPÖ, explaining the concerns. However, it was difficult to obtain files in the last U Commission – which was changed by a ruling of the Constitutional Court. However, the Freedom Party did not rule out that the secretly recorded statements of the late chief Christian Pilnacek about the alleged interventions of Wolfgang Sobotka (ÖVP) could become a problem.
“We have the impression that part of the population receives preferential treatment here,” says Krainer about the motivation for the U-Committee. He assured that no investigation will be conducted into the “little innkeeper” who received Covid aid – “unless the little innkeeper is called Sigi Wolf.” In total, the request covers four areas of evidence. In addition to COFAG, this also includes ‘information transfer and interventions’, cooperation between state-affiliated companies and state supervision.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
