Fressnapf founder and Signa investor Torsten Toeller is trying to get back at least some of the money he invested in René Benko’s now bankrupt Signa Group. Toeller has filed a lawsuit against the Laura Private Foundation, which Benko founded together with his mother Ingeborg, reports the German news magazine Spiegel.
Toeller’s investment company Fressnapf Luxembourg exercised the option promised by Benko to return its 4.5 percent stake in Signa Holding. However, the investment company never received the money for this, Spiegel reports.
The associated lawsuit has been pending at the Vienna Commercial Court since early August.
Donation agreement drawn up?
Information shows that Benko may live on financial gifts from his mother Ingeborg. His mother, a retired kindergarten teacher, is a beneficiary of two private foundations. She is said to have entered into a new donation agreement with her son months ago.
According to Spiegel, an attorney for the Laura Private Foundation left the lawsuit open and did not comment on the donation agreement. René Benko’s lawyer also did not comment on this in response to a written request from the APA.
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.
