Vienna’s real estate scene is facing a wave of financial distress, with legal battles escalating as lawyers and developers struggle to collect outstanding fees. Recent developments highlight a pattern of “company disposals” – a euphemism for winding down businesses – often involving a network of individuals repeatedly linked to financial difficulties.
The Wagenhofer Case: A Pattern of Financial Trouble
Thomas Wagenhofer, a property speculator with a history of fraud convictions, is at the center of a dispute with his former lawyer, Marlene Krüger. Krüger is pursuing a €12,504.59 claim against Austraße 1 ImmobilienprojektentwicklungsgmbH, a company Wagenhofer previously controlled. The claim stems from transactions related to properties belonging to the Chorherrnstift Klosterneuburg, conducted in 2022.
From Development to Disposal: The Austraße 1 Story
Austraße 1 ImmobilienprojektentwicklungsgmbH, founded in January 2019, appears to be undergoing a significant transformation. Wagenhofer transferred majority ownership and management to Andreas Steiger, a former lawyer known for “company liquidation” services, in 2023. Steiger relocated the company to an address – Wehlistraße 27b/2/DG 8, 1200 Wien – that has grow notorious for company closures.
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The G60 Connection and the Rise of “Company Liquidators”
The case of Austraße 1 is linked to a wider network referred to as the “G60 Connection.” Andreas Steiger and Jürgen Rieger are identified as key figures specializing in company liquidation. Rieger has a track record of providing these services to prominent individuals in Vienna’s real estate and hospitality sectors, including Alexander Widhofner and Bernd Rieger (Jürgen Rieger’s brother).
The Chorherrnstift Klosterneuburg and Emerging Financial Strain
Wagenhofer previously handled several projects for the Chorherrnstift Klosterneuburg through Austraße 1. Sources indicate that the Klosterneuburg is now facing financial challenges, impacting partners like Alexander Widhofner and Thomas Wagenhofer.
A Potential ICO and Further Complications
The REALTO Group, owned by Wagenhofer and Peter Kilian (also part of the G60 Connection), is reportedly planning a €1.2 billion Initial Coin Offering (ICO) in collaboration with Metropolis Gruppe, led by Skender Fani. This adds another layer of complexity to the unfolding situation.
Austraße 1’s Current Status
According to the Firmenbuch (Austrian company register), Austraße 1 Immobilienprojektentwicklungsgmbh is currently listed as “LIVE”, but a notice indicates a request for dissolution was filed on July 16, 2025. A modification to the company was also registered on April 10, 2024, and February 2, 2024.
FAQ
Q: What is the G60 Connection?
A: A network of individuals linked to company liquidations and financial difficulties in the Vienna real estate scene.
Q: Who is Andreas Steiger?
A: A former lawyer specializing in company liquidation, now managing Austraße 1 ImmobilienprojektentwicklungsgmbH.
Q: What is the status of Austraße 1 ImmobilienprojektentwicklungsgmbH?
A: Currently listed as “LIVE” but a dissolution request has been filed.
Q: What role did the Chorherrnstift Klosterneuburg play?
A: Wagenhofer conducted several projects for them through Austraße 1, but they are now reportedly facing financial difficulties.
Q: What is an ICO?
A: An Initial Coin Offering, a fundraising method involving the creation and sale of a new cryptocurrency.
