The air is becoming thinner for René Benko: After the bankruptcy of his Signa Holding and numerous subsidiaries, the Austrian real estate investor also filed for bankruptcy at the beginning of March. But what does that mean for him personally? “What won’t happen is that Mr. Benko will be able to pay for his 50th birthday with a credit card next year – and certainly not with Fabios,” said financial expert Gerald Zmuegg. There will be huge restrictions and changes in his private life.
As much as you would like to blame René Benko for all the misery, the Signa drama was caused by monetary policy that got completely out of hand, according to the financial ombudsman in the krone.tv interview with Jana Pasching.
“The principle that still applies in politics, especially when it comes to crises, is that you have to keep your eyes closed, otherwise the population will not understand. Because there is the evil Mr. Benko, he is responsible for everything.’ But the fact is, “If you hate Mr. Benko, you must also hate those who made this system possible.”
‘Expect a maximum of 10 percent for creditors’
Zmuegg does not expect a trust solution to work. “Because it’s just too late.” ‘Such trust solutions are usually achieved out of court and not as part of an insolvency.’ This also shows the disagreement and different interests of the creditors. “With Mr. Grossnig, with his close relationship with the private Haselsteiner foundation, it was doomed to failure from the start.” From Zmuegg’s point of view, the worst would happen, namely that creditors would end up collecting a maximum of 10 percent. .
Money can’t just disappear
According to the head of the Financial Prosecutor’s Office, Wolfgang Peschorn, money cannot simply disappear, as he said in the COFAG-U committee. Zmuegg: “The money hasn’t disappeared. The value of the property has simply fallen. Yes, and that’s why the money is gone.”
That is why the financial resources are also made available by the creditors. “The bitter thing is that it will have further consequences for us as far as the credit sector is concerned.” Zmuegg is confident that the Benko case will make borrowing much more difficult in the future.
You can read more about this in the interview above!
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Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
