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Signa Group’s Former CFO Addresses Insolvency

Signa Group’s Former CFO Addresses Insolvency

Vie, Jun 21st 2024

Manuel Pirolt, ex-CFO of Signa Prime and Signa Development, denies wrongdoing amid insolvency investigations and resigns from the board.

Keystone/APA/HELMUT FOHRINGER

Former CFO of Signa Prime and Signa Development, Manuel Pirolt, commented on the insolvency of the Signa Group companies. In an interview, Pirolt announced his resignation from the management board of both real estate companies.

Pirolt confirmed that, to his knowledge, he is under investigation. However, he stated he is not guilty and has not been questioned. He asserted he was unaware of any illegal activities and would not have tolerated them.

When questioned about the absence of board minutes for 2022 and 2023, Pirolt explained that no formal board meetings were held. Board members were located in Innsbruck, Vienna, Berlin, and Frankfurt, making formal meetings unfeasible. Important matters were submitted to the Supervisory Board or the Investment Committee for approval, with documentation provided.

Pirolt denied being the right-hand man of Signa founder René Benko, though he acknowledged close contact regarding the real estate company. Pirolt noted that legal experts would determine if Benko was effectively managing the group.

Signa Prime and Signa Development are core companies within the Signa Group, currently undergoing restructuring. Pirolt mentioned that debtor-in-possession loans would facilitate orderly liquidation of properties, stabilizing the companies.

©Keystone/SDA

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