Private Properties – Fellner Under Pressure? Banks own liens

At the beginning of June, the “Standard” reported what has been in the Austrian business register since March 14: The Austrian media group, which was founded in 2006 by Wolfgang Fellner, has a restructuring expert specializing in corporate restructuring on board as co-executive director in five central companies. Wolfgang Fellner and his son are therefore no longer the only ones authorized to sign.

The background, according to “Standard”: Fellner had started his newspaper project with the help of loans from several banks, Bank Austria is said to be one of the main lenders to date. The paper is rumored to have debts in the tens of millions; according to a report from the end of June, a haircut is planned.

Interestingly now, Wolfgang Fellner has apparently already pledged private property to banks.

• The land registry contains the following information about Fellner’s real estate on Himmelstrasse in the Grinzing district of Vienna: As early as 2011, the media company granted Immo Bank AG a pledge up to a maximum amount of EUR 5.06 million; 8 million euros registered in the Land Registry.
• In addition, there is a contemporaneous attachment with other properties in Grinzing, St. Lorenz and in Mondsee, where Fellner would have representative property including lake access. Meanwhile, in 2016, Wolfgang Fellner had taken 1.392 million euros from Immo Bank AG, which was also secured by simultaneous liability. Incidentally, a trustee has now been registered for the Mondsee property, who has the right to sell it until July 1, 2023.

Could Fellner’s financial problems be bigger than previously reported? Originally, according to “Standard”, his media group should have found a solution with the banks long ago. Wolfgang Fellner had recently always claimed, “The information was and is wrong.”