In the case of two companies in the real estate group, compulsory criminal proceedings are still pending due to breach of 2021 filing obligations, explains a spokesperson for the Innsbruck Regional Court.

Signa Prime AG and Signa Development AG of Tyrolean investor René Benko have not yet published their Annual Financial Statements for 2021 in the Commercial Registry despite their submission deadline. In the case of the two companies, criminal proceedings are pending due to breach of 2021 filing obligations, explained a spokesperson for the Innsbruck Regional Court. Signa was not initially available for comment.

Under German Commercial Law (UGB), companies, including joint-stock companies, are required to submit annual financial statements, including the management report and auditor’s testimony, to the Trade Registry Court no later than nine months after the balance sheet date. With a balance sheet date of December 31, 2021, Signa’s annual financial statements should have been published in the corporate register.

Communities may have already missed three deadlines

According to the court’s spokesperson, the measure affects the companies themselves as well as their “authorized bodies”. The court provided no other information, citing the non-public proceedings.

From the length of time the compulsory criminal proceedings were pending, it can be concluded that three penalties had already been imposed for not allowing the deadlines to expire. The amount of penalties varies and, according to the law, depends on the size of the company. For Signa Prime Selection AG, it must amount to 4,200 euros for the company itself and for each authorized representative body. In the case of Signa Development Selection AG, the cost is around 700 euros. (appa)