The company did not pay any capital gains taxes on the profit distributions to shareholders in 2023, as the “Standard” reports. However, Signa Prime filed a voluntary disclosure. And Signa Prime allegedly paid the taxes retroactively.
The WKStA has indeed initiated proceedings, “but with the indication that the voluntary disclosure has become exempt from punishment due to the timely payment,” said restructuring administrator Norbert Abel in his latest report.
The WKStA is also interested in transactions carried out by former Signa managers, although the accused deny the allegations. Signa Prime is not directly affected by the events discussed in these proceedings.
At Signa Prime, the restructuring administrator has enough to do: The company owns properties such as the Vienna Park Hyatt hotel, the Postal Savings Bank and several German properties and project companies. In order to enable an orderly disposal of the properties, the majority of creditors voted in favor of a trust procedure. The Republic has lodged an appeal and the Vienna Higher Regional Court has overturned the restructuring plan. The decision is to be contested, however.
Sales of Austrian real estate difficult
However, there are a few problems with the sale of the properties: it was originally 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 particularly pressing in Germany. There, 70 companies are in standard insolvency proceedings and a further 27 are in provisional insolvency proceedings.
While there are negotiations in Germany about the sale of half of the KaDeWe property, the sales of some Austrian properties are proving more difficult: The listed Postal Savings Bank is leased to the Federal Real Estate Company (BIG) for 99 years under a building lease 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 that is secured by the Postal Savings Bank.
The palace in Vienna’s Renngasse is in turn leased to the Constitutional Court as the main tenant until 2062. The lease with the Bank Austria Art Forum expires at the end of the year.
