Nebau's governance under fire as audit sparks conflict-of-interest debate
Questions have arisen over governance and financial oversight at Nebau, a public housing provider in Burgenland. Former and current board members have responded to concerns raised in a state audit report. The discussions also touched on potential conflicts of interest and the company’s borrowing practices with major banks. Julius Marhold, who served as the long-serving chair of Nebau’s supervisory board, addressed claims about his dual role. He maintained that holding positions at both the bank and Nebau posed no conflict of interest. Marhold also revealed that he only later discovered a 2023 diversion case involving an employee had been resolved after he left the board.
Over the years, Nebau became a significant borrower for Raiffeisenlandesbank, where Marhold was also involved. Meanwhile, Michael Bieber, a supervisory board member since 2017, defended the board’s oversight. He dismissed allegations that management was merely a figurehead, insisting decisions were properly reviewed.
Bieber, a certified supervisory board member with 20 years in banking, called the state’s special audit surprising. He noted that neither annual audits nor the state oversight authority had previously flagged major issues. Roland Fürst, SPÖ club chairman, countered that the audit’s findings were not personal opinions but legally obtained through an external review.
Philip Juranich of the Greens questioned whether Nebau’s reliance on Raiffeisenlandesbank and Erste Bank for financing deals might restrict competition. Bieber also clarified that selling investor apartments was never part of Nebau’s core business model and did not require board approval. The debate highlights ongoing scrutiny of Nebau’s financial and governance practices. State auditors and political figures continue to examine the company’s borrowing, oversight, and decision-making processes. The discussions may influence future policies on transparency and competition in public housing financing.
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