The bankrupt Signa Prime of concrete juggler René Benko did not pay capital gains tax on profit distributions in 2023. In order to avoid a fine, the company filed its own tax return and is said to have already paid the taxes, reports the ‘Standaard’.
The WKStA had initiated proceedings, “but with the indication that the timely payment of the voluntary disclosure exempted the fine,” restructuring administrator Norbert Abel said in his most recent report.
WKStA is also interested in transactions by former Signa managers, although the defendants deny the allegations. Signa Prime is not directly affected by the events discussed in these proceedings.
Redevelopment plan destroyed
At Signa Prime, the restructuring manager has plenty to do: the company includes properties such as the Vienna Hotel Park Hyatt, the Postsparkasse and several German properties and project companies. In order to enable an orderly sale of the real estate, the majority of the creditors voted in favor of a trust procedure. The Republic has appealed and the Vienna Supreme Court has annulled the restructuring plan. But the decision must be contested.
However, there are some problems with the operation of the real estate: initially it was assumed that Signa Prime would need around 350 million euros to be stabilized. According to the report of the restructuring administrator, 227 million euros are currently missing. Time is of the essence, especially in Germany. There are 70 companies involved in regular insolvency proceedings and another 27 in preliminary insolvency proceedings.
Problems with sales in Austria
While negotiations are underway in Germany for the sale of a half-share in the KaDeWe building, the sale of a number of Austrian properties is proving more difficult: the listed Postal Savings Bank has been leased to the Federal Real Estate Company (BIG) for 99 years. year on the basis of a superficies agreement. And according to earlier reports by the Bloomberg news agency, the German R+V Versicherungs AG has subscribed to a 99-year Signa bond, covered by the Postsparkasse.
The palace in Vienna’s Renngasse is in turn rented as the main tenant to the Constitutional Court until 2062. The lease with the Bank Austria Art Forum expires at the end of this year.
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.
