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Austrian Justice Minister Zadić Plans Reforms in Connection with the Signa Insolvency
The insolvency of the Signa real estate company has far-reaching consequences, which are now also prompting the Austrian Ministry of Justice under the leadership of Green Justice Minister Alma Zadić. In a five-point plan in response to Signa's insolvency, Zadić plans to significantly tighten the penalties for failing to submit balance sheets.
Austrian Justice Minister Zadić proposes increased penalties for missing balance sheets due to Signa and a five-point plan for reform of the criminal offense of balance sheet falsification. / Picture: © BMJ/Antonio Nedić
The minister is proposing to increase the penalties for companies of public interest to up to 100,000 euros, as reported by "DerStandard". This would apply in particular if companies such as Signa fail to submit their balance sheets on time…
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