---
title: "Signa financial figures: entity, period and procedural scope"
language: en
canonical: https://osint.v3rta.com/dossiers/signa-holding/financial-scopes/
as_of: 2026-10-10
keywords: ["SIGNA Holding GmbH","SIGNA Prime Selection","SIGNA Development Selection","René Benko","Familie Benko Privatstiftung","Laura Privatstiftung","Ingbe Stiftung","Supraholding","ownership","insolvency","corporate governance","asset recovery","criminal proceedings"]
---

# Signa financial figures: entity, period and procedural scope

**Question.** Why do the retained Signa financial totals differ?

**Answer.** They describe different entities, dates, accounting measures and stages of claims examination. Some differences are explainable by scope; others, including Prime’s reported 2022 loss and profit, remain unresolved.

## Company, group and estate measures

- Analysis: Holding’s initial filing estimated EUR5.26bn liquidation-value liabilities, EUR2.78bn book assets and EUR314.3m liquidation assets. Its reported 2022 company accounts instead gave slightly over EUR500m loss and EUR1.996bn liabilities. A November 2023 group-wide estimate above EUR10bn was explicitly approximate in the absence of consolidated group accounts. These are not interchangeable totals, and the group estimate cannot be assigned to Holding alone. [s-d7] [s-d65]
- Analysis: The April 2024 comparison differentiates claims lodged from claims admitted: Holding EUR7.95bn versus EUR322m, Prime EUR13.1bn versus EUR5.85bn, and Development about EUR2.3bn versus EUR1.47bn. Company-estimated debt was another category—EUR5bn for Holding and EUR4.53bn for Prime. The admission figures were snapshots of examination, not permanent final totals. [s-d74]

## Contingent obligations and a small general-partner company

- Analysis: The foundation’s EUR854m nominal liabilities included approximately EUR700m of insolvency-triggered options that its board thought might be much lower. Approximately EUR1bn of arbitration value was additional and disputed. Its EUR21.5m assets were nearly all intercompany receivables with estimated liquidation value around EUR2m. At a different level, Supraholding GmbH’s 2024 EUR191.68 total assets and negative EUR2,995.42 equity concerned the general partner, not the KG’s large Holding stake. [s-d9] [s-d172] [s-d74] [s-d72]

## Losses, revaluations and the unresolved Prime contrast

- Analysis: The retained Swiss Retail Selection account gives EUR1.394bn annual loss to September 2022, EUR620m equity and EUR4.869bn long-term plus EUR1.074bn short-term debt. A report gives Development EUR300m loss at the end of 2022. Prime is more difficult: one retained passage gives EUR1.2bn loss; another gives EUR90m net profit despite EUR1.16bn write-downs on a EUR20.4bn portfolio, alongside roughly EUR1bn reserve and long-term fixed interest rates. The passages do not settle the account scope, so both remain qualified rather than averaged. [s-d65] [s-d53]
- Attributed: A retained account of Signa Retail Selection AG’s 30 September 2022 accounts reports annual loss EUR1.394bn versus EUR1.194bn the prior year, equity EUR620m, long-term debt EUR4.869bn and short-term debt EUR1.074bn. [s-d65]
  - Qualification: The retained reported account supports this specific historical statement; it does not establish the participant’s position beyond the stated scope and period.
- Attributed: A retained report gives Signa Development Selection’s loss at the end of 2022 as EUR300m. [s-d65]
  - Qualification: The retained reported account supports this specific historical statement; it does not establish the participant’s position beyond the stated scope and period.
- Analysis: A reported 2018 TPA memorandum sought to keep Holding from having more than 50% of votes in Prime, Development or Retail, and recommended separating key management personnel to avoid a consolidation obligation. This is a reported quotation of a recommendation, not a measurement of implemented ownership or a definitive legal ruling on consolidation. Separately, Prime’s administrator alleged persistently negative operating results excluding revaluation gains, working capital and free cash flow; those litigation assertions do not make accounting revaluations proof of fraud. [s-d65] [s-d128] [s-d53]
- Attributed: The retained TPA memorandum quoted in an investigation recommended separating the personnel leading key group companies and described Holding’s position on unified group management, relevant to consolidation, as borderline. [s-d65]
  - Qualification: The retained reported account supports this specific historical statement; it does not establish the participant’s position beyond the stated scope and period.

## Currency and lender scope

- Analysis: Ameria’s 2020 figures are in Swiss francs, while the loan and capital-transfer accounts use euros. The Chrysler purchase appears as approximately EUR150m in one account and USD151m in another; the March 2025 sale’s EUR5m estate proceeds are not a gross sale price. Reported EUR2bn Raiffeisen exposure concerns both groups, and cannot become a precise Holding-to-RBI debt figure. [s-d65] [s-d74] [s-d53]
- Attributed: A retained secondary history records Holding and RFR Holding, associated with Aby Rosen and Michael Fuchs, buying equal interests in the Chrysler Building in March 2019 for USD151m. [s-d53]
  - Qualification: The retained secondary biography supports this specific historical statement; it does not establish the participant’s position beyond the stated scope and period.

## Invoices and creditor arrangements

- Analysis: The retained Gusenbauer invoice account distinguishes billing dates from services. Two invoices billed in 2021 were EUR3.6m for 1 January 2020–28 February 2021 and EUR2.4m for 1 February–31 August 2021, together EUR6m including VAT. A separate April 2022 invoice was EUR1.25m for October 2021–March 2022 services. The reported assignments concerned Galeria restructuring, D18-package financing and a WSF subordinated-loan application. The overlapping service periods have not been reconciled to contracts or timesheets, and amounts billed do not establish payment or wrongdoing. The quoted service description calls the scheme “WST”; the retained account interprets that abbreviation as WSF. [s-d65]
- Analysis: The retained Kika/Leiner account describes two separate Signa-group transactions: the operating business was sold to Hermann Wieser for EUR1, while property went to Supernova. It does not identify Holding as the precise legal seller in either agreement. A separate report describes a September 2023 agreement to contribute EUR20m to insolvency creditors in four EUR5m instalments through June 2024. That agreement is a creditor arrangement, not an admission of every allegation; the cited passage does not establish that every instalment was paid. [s-d65]

## Sources

- [s-d7] Media source · s-d7
- [s-d65] Media source · s-d65
- [s-d74] Media source · s-d74
- [s-d9] Media source · s-d9
- [s-d172] Research source · s-d172
- [s-d72] Corporate registry source · s-d72
- [s-d53] Media source · s-d53
- [s-d128] Media source · s-d128