Newsletter: Vienna International News

Signa Development Selection and Signa Prime: Real Estate Giants on the Brink

The Supreme Court's (OGH) decision to reject the appeal on points of law by Signa Development Selection AG and a German investor has closed another chapter in the liquidation of René Benko's billion-euro real estate group. Previously, the restructuring plan for Signa Prime, another central company of the group, had already failed. The insolvency of the Signa Group represents one of the biggest economic crises in Austria's history.

Switzerland Will Assume the OSCE Chairmanship in 2026

Switzerland will assume the Chairmanship of the Organization for Security and Co-operation in Europe (OSCE) in 2026. This was announced today by Ian Borg, Malta's Deputy Prime Minister and Chairperson-in-Office of the OSCE. The 57 participating states of the organization took the decision unanimously and underlined their collective confidence in the OSCE's ability to act.

Financial Fraud as a “Growth Industry”: Record Losses and New Scams According to the Austrian Financial Market Authority

The Financial Market Authority (FMA) is sounding the alarm: financial fraud has developed into a real “growth industry”. According to the authority's latest figures, the total loss reported by financial fraudsters in 2024 amounted to around 15.5 million euros - an increase compared to the previous year, when the figure was 12.8 million euros. The dramatic increase in crypto-based fraud cases is particularly worrying. According to the FMA, the majority of these fraud cases could indicate that illegal financial markets are increasingly attracting the attention of criminals.

Bankruptcy Proceedings Against Ostchem Holding GmbH: Ukrainian Oligarch Dmytro Firtash in Financial Difficulties

Bankruptcy proceedings were opened at the Salzburg Regional Court against Ostchem Holding GmbH, a company linked to a major oligarch in Ukraine. The Ukrainian entrepreneur Dmytro Firtash, considered one of Ukraine's most influential and wealthiest oligarchs, is the company's majority shareholder, which has increasingly run into financial difficulties in recent years.