Austrian financial and legal expert questions Signa restructuring

Published on: Wednesday 03 April 2024

The restructuring plan for the insolvent Signa Group of ex-billionaire René Benko is the wrong approach, according to the Austrian Financial Procurator's Office. The promised quota of 30% for creditors can only be achieved if there is a "striking market recovery" in real estate, the president of the office, Wolfgang Peschorn, told the Foreign Press Association in Vienna. He maintained that bankruptcy would have been the cleaner solution. Such a break-up under the direction of an insolvency admin

News source: https://finance.yahoo.com/news/austrian-financial-legal-expert-questions-073028748.html

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Austrian financial and legal expert questions Signa restructuring