Vienna Commercial Court is currently reviewing Signa Informationstechnologie GmbH’s request for bankruptcy proceedings, after the company withdrew its restructuring plan. The company has been insolvent since May 3rd, with liabilities amounting to 18.9 million euros. Of this, 8.4 million euros have been recognized by the insolvency administrator, while around 10.5 million euros have been raised so far and will be subject to further review.
Creditors’ protection association has stated that the recovery of hardware and software will now take place, with creditors promised a quota of more than 10 percent. The company mainly served as an IT service provider for companies within the Signa group, particularly for the insolvent Signa Holding, Signa Prime, and Signa Development. Signa Holding’s restructuring proceedings had already been converted into bankruptcy proceedings.
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