Settlement with Signa
Kurz pays back €415,000 to insolvency administrator
Former Chancellor Sebastian Kurz (ÖVP) pays back €415,000 following a settlement with the Signa insolvency administrator. Kurz's company SK Management GmbH had arranged €100 million from an Arab investor for a Signa subsidiary in 2023.
Kurz's company should have received a fee of 2.4 million euros for this. However, only 750,000 euros were actually paid before the bankruptcy.
As part of the insolvency proceedings, the administrator wanted this money back. A settlement has now been reached on the repayment of 415,000 euros.
Other creditors should not be placed in a worse position
The settlement states that the services provided by SK Management for Signa are undisputed. As the payment was made in the last six months before the insolvency and the company wanted to avoid putting other creditors in a worse position, a settlement sum of around EUR 415,000 net was agreed, according to a media report citing people close to Kurz. The settlement was intended to draw a line under the cooperation with Signa.
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