Austrian investor René Benko, founder of the Signa property and retail group, has filed for insolvency, a spokeswoman for the Innsbruck regional court confirmed to dpa on Thursday.
The judge is expected to decide on the application by the entrepreneur in the coming days, the spokeswoman said. She emphasized that reports that Benko had filed for so-called private insolvency were not correct.
The legal representation of the republic of Austria had previously filed an insolvency petition against 46-year-old Benko at the regional court.
Benko had not yet paid in full a promised subsidy for the insolvent holding company of the Signa Group, it said.
