Austrian investor Rene Benko, founder of the Signa property and retail group and one of Austria‘s richest men, has filed for insolvency, a spokesperson for the Innsbruck regional court confirmed on Thursday.
The move comes after the Austrian state prosecutor filed an insolvency petition against the 46-year-old at the end of January, accusing Benko of failing to pay promised fees linked to the insolvency of Signa Group’s holding company.
The court spokesperson emphasized that this was not an application for private insolvency, but rather insolvency as a business owner.
Nevertheless, as Austrian daily Der Standard reports, Benko is personally liable with his own private wealth, estimated in 2023 to be around 5.5 billion (roughly $6 billi…
Read the full article at: https://www.dw.com/en/austrian-property-tycoon-rene-benko-files-for-insolvency/a-68464903