Change of judge

Benko: breathing space for millionaire advisor Gusenbauer

Alfred Gusenbauer charged René Benko's Signa Holding millions in fees.(Bild: Krone KREATIV/EXPA/APA/picturedesk.com, Helmut Fohringer/picturedesk.com)

The insolvency administrator of Signa Holding is demanding millions back from former Chancellor Alfred Gusenbauer. Now there are delays in the legal challenges: The judge, who had already familiarized himself with the complex case, will be promoted and appointed to another court on November 1.

On Friday, insolvency administrator Christof Stapf submitted his fifth report to the creditors of Signa Holding. According to an expert, René Benko's top group company, which together with its subsidiaries Signa Prime and Signa Development caused the biggest bankruptcy in European post-war history at the end of 2023, was already materially insolvent in November 2023. To date, creditors have registered 449 claims amounting to 8.352 billion euros with the holding company alone. Of these, the insolvency administrator has recognized 2.758 billion euros and disputed 5.594 billion euros.

It is interesting to take a look at the avoidance claims that the liquidator is asserting in court: while the criminal investigation into the Signa-Benko case is progressing rapidly - the economic and corruption prosecutor's office submitted a second indictment against Signa founder René Benko to the Innsbruck Regional Court in September - "considerable delays" must be expected in the civil law settlement of the billion-euro disaster, according to Stapf. 

Judge was "well trained"
 The background according to "Krone" research: The judge in charge, who according to the confidential report of the liquidator was already "well versed" in all proceedings, will be promoted and transferred to a higher court on November 1.

A circumstance that gives former Signa advisory board member and long-time Benko advisor Alfred Gusenbauer an unexpected breather. Signa Holding currently has two legal challenges pending against the former chancellor and former SPÖ federal party leader and his project company. In total, Gusenbauer has so far been owed around five million euros by the holding company alone. However, as former Chairman of the Supervisory Board of Signa Prime and Signa Development, the 65-year-old former politician has other legal issues to deal with. He himself denies any wrongdoing.

The delay also affects lawsuits filed by Signa Holding against another advisory board member as well as against the Laura Private Foundation (Innsbruck) and the Ingbe Foundation (Liechtenstein), which are considered to be the Benkos' asset bunkers.