After Signa Failure: Bankruptcy Application from Several "Laura" Companies

The bankruptcy application was filed by Laura Warenhaus Premium Immobilien Management GmbH, Laura Warenhaus Premium Immobilien Beteiligung GmbH and Laura Warenhaus Premium Immobilien Co-Invest GmbH & Co KG, according to Creditreform.

Bankruptcy Application Announced for "Laura" Companies of the Laura Private Foundation

The companies are intermediate companies without employees. Their purpose was to manage investments. They have mutual liabilities of up to 160 million euros. The Laura Private Foundation is involved in these companies through the Laura Holding. The holding is 42 percent owned by the Laura Private Foundation, other shareholders are according to "Wirtschaftscompass" the Signa investors Ernst Tanner and Torsten Toeller as well as the Eugster family.

Unlike Rene Benko and the Benko Family Private Foundation, the Laura Private Foundation still has assets, according to media reports. The Economic and Corruption Prosecutor's Office (WKStA), which arrested Benko last week on suspicion of fraud, suspects that Benko has parked money in the Laura Private Foundation to protect it from creditors. Officially, the Laura Private Foundation belongs to Benko's mother, but the WKStA suspects that Benko himself is the "de facto ruler and economically entitled". According to "profil", the companies Laura Holding and Laura Finance Holding have been interposed in numerous real estate project companies in Germany in recent years, so that Signa saves the real estate transfer tax.

(APA/Red)

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