Signa Prime, an insolvent property firm, is in discussions with the holding company of billionaire Klaus-Michael Kuehne about receiving a financial lifeline. This development comes as Signa Prime's creditors have agreed to a proposal for the orderly sale of the company's luxury properties worth billions of euros. The company, which filed for Chapter 11 bankruptcy in New York federal court last year, expects to emerge from the Chapter 11 proceedings as early as next month. Creditors have agreed to significant concessions in the wind-down deal.
Signa creditors agree deep haircuts in wind down deal https://t.co/KRuEjbxAz7
The deal was announced last year after the company filed for Chapter 11 bankruptcy in New York federal court. https://t.co/gmBLTxcHWq
Signa Prime creditors back a proposal by the insolvent real estate company for the orderly sale of billions of euros of luxury properties https://t.co/QjUSOc7xi7
"expects to emerge from Chapter 11 proceedings as early as next month." very bullish for the stock, i am sure https://t.co/0JEZoHChRh
Signa Prime and the holding company of billionaire Klaus-Michael Kuehne are in talks about handing the insolvent property firm a lifeline as creditors meet https://t.co/KnDX1W8zQc