Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Controversy over pandemic-era capital increase
Immofinanz announced a capital increase as a means of strengthening its capital base during the COVID-19 pandemic. The Austrian investor association IVA criticized the transaction as rushed and argued that the issue price was below book value, raising concerns about dilution and the treatment of smaller shareholders.
2008
Immofinanz financial and governance crisis
The global financial crisis caused an extreme fall in Immofinanz's market capitalization, a reported pre-tax loss of approximately EUR 2.65 billion and serious liquidity pressure. The episode also led to management changes and criminal proceedings against former senior figures, including former CEO Karl Petrikovics and former supervisory-board chairman Schwager.
2004
BUWOG affair
The BUWOG affair concerned allegations surrounding the sale of approximately 60,000 federal apartments. Prosecutors alleged that former Immofinanz CEO Karl Petrikovics obtained information about a competing bid through a commission paid to intermediaries. The broader proceedings also involved former finance minister Karl-Heinz Grasser and other defendants. A first-instance verdict in 2020 convicted Grasser, Walter Meischberger and Peter Hochegger, although appeals were reported.