Austrian tycoon Rene Benko's company, Signa, is facing insolvency, with reports suggesting that it may file for insolvency. Last-ditch talks with investors are underway to secure emergency funding and avoid a wave of insolvencies in the €23 billion ($25 billion) property empire. The situation has led to the transfer of a stake in Signa to a Swiss investor. Swiss private bank Vontobel anticipates making provisions for about half of its exposure to troubled Signa. Signa's insolvency declaration marks a significant casualty of Europe's property crisis, affecting high-profile projects and department stores across Germany, Austria, and Switzerland.
It’s the biggest casualty so far of a European property crash. Real estate giant Signa, the firm behind high profile projects and department stores across Germany, Austria and Switzerland, declared insolvency Read more: https://t.co/mwspnfFi9L https://t.co/gqcQdZd65N
It’s the biggest casualty so far of a European property crash. Real estate giant Signa, the firm behind high profile projects and department stores across Germany, Austria and Switzerland, declared insolvency https://t.co/tyKXtaIVcK https://t.co/32XgGDBwB1
Property and retail giant Signa declared insolvency after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of Europe's property crash Read more: https://t.co/mwspnfFi9L https://t.co/AooxvfKmw9
Property and retail giant Signa declared insolvency after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of Europe's property crash https://t.co/tyKXtaIVcK https://t.co/FRJU9DpCdV
Europe's Signa toppled in property rout https://t.co/etLkHfeytw https://t.co/40I2UhP7zj
Austrian property tycoon’s Signa to file for insolvency https://t.co/PRPoy77dM2
Austria property giant Signa to file for insolvency https://t.co/ONrE3FwXQI
Tycoon Rene Benko’s Signa is planning to file for insolvency proceedings, making the co-owner of New York’s Chrysler building one of the most prominent casualties of Europe’s property crisis https://t.co/ZDZlMqTjRb
Tycoon Rene Benko’s Signa is planning to file for insolvency proceedings, making the co-owner of New York’s Chrysler building one of the most prominent casualties of Europe’s property crisis https://t.co/E9yWdDAxx2
Tycoon Rene Benko’s Signa is planning to file for insolvency proceedings, making the co-owner of New York’s Chrysler building one of the most prominent casualties of Europe’s property crisis https://t.co/HapH0Hma9Q
Julius Baer will likely end up making provisions for about half of its exposure to troubled Signa, according to Swiss private bank Vontobel https://t.co/eR1FWKQiyk
Julius Baer will likely end up making provisions for about half of its exposure to troubled Signa, according to Swiss private bank Vontobel https://t.co/fhokWMXoY8
Austrian property tycoon Rene Benko transfers a stake in Signa to Swiss investor in a sign of maneuvering around the embattled group as it holds last-ditch talks to secure emergency funding https://t.co/Rimjrb7Z95
Austrian property tycoon Rene Benko transfers a stake in Signa to Swiss investor in a sign of maneuvering around the embattled group as it holds last-ditch talks to secure emergency funding https://t.co/sFuNeeXmpW
Signa likely to make further insolvency filings - source https://t.co/hT5MYOc6T1 https://t.co/hKQsVEBx77
Austrian mogul Rene Benko’s €23 billion ($25 billion) retail and property empire Signa is on the cusp of a wave of insolvencies as doubts grow that last-ditch efforts to secure emergency funding will succeed https://t.co/EasWsEJeeD
Austrian mogul Rene Benko’s €23 billion ($25 billion) retail and property empire Signa is on the cusp of a wave of insolvencies as doubts grow that last-ditch efforts to secure emergency funding will succeed https://t.co/7nlo6HV49p
Austrian mogul Rene Benko’s €23 billion ($25 billion) retail and property empire Signa is on the cusp of a wave of insolvencies as doubts grow that last-ditch efforts to secure emergency funding will succeed https://t.co/eCdfYdovpa
Signa likely to make further insolvency filings - source https://t.co/o41fUfobYi https://t.co/Zc5sAdf10p
Signa likely to make further insolvency filings - source https://t.co/r457FTlaM2 https://t.co/m6DjaD6KpW
Signa is holding last-ditch talks with investors, hoping to secure a funding lifeline and avoid a wave of insolvencies in the €23 billion ($25 billion) property empire https://t.co/bE6MYhndBY via @markets @LibbyCherry98 #Switzerland
Signa is holding last-ditch talks with investors, hoping to secure a funding lifeline and avoid a wave of insolvencies in the €23 billion ($25 billion) property empire https://t.co/x22dAteDeb
Signa is holding last-ditch talks with investors, hoping to secure a funding lifeline and avoid a wave of insolvencies in the €23 billion ($25 billion) property empire https://t.co/BoPh9zt6Zm
Signa is holding last-ditch talks with investors, hoping to secure a funding lifeline and avoid a wave of insolvencies in the €23 billion ($25 billion) property empire https://t.co/jd3he1glMd
Tycoon Rene Benko’s Signa may file for an insolvency on Tuesday, Der Standard newspaper said, citing sources https://t.co/USY9HanKq2 via @markets @martoneder #Switzerland
Signa unit files for insolvency as crisis at Benko's empire deepens -Spiegel https://t.co/U07Z8XRHeN https://t.co/lfJsIT7GVX
Signa unit files for insolvency as crisis at Benko's empire deepens -Spiegel https://t.co/8VsqvCjlwu https://t.co/EsFnm1AzkE
Tycoon Rene Benko’s Signa may file for an insolvency on Tuesday, Der Standard newspaper said, citing sources https://t.co/H61OFyaMEJ
Signa unit files for insolvency as crisis at Benko's empire deepens -Spiegel https://t.co/KyWx4Mui6H https://t.co/j1146hoC2w
Tycoon Rene Benko’s Signa may file for an insolvency on Tuesday, Der Standard newspaper said, citing sources https://t.co/yi9tmAKEMc