Signa Group's SportScheck retailer is reportedly filing for insolvency, casting a spotlight on the complex structure of the debt-ridden Austrian property empire, Signa Holding. The empire's holdings include the Chrysler Building in New York and shares in a Berlin landmark. Additionally, British bungalow tycoon declared bankrupt with company debts of £725 million ($916 million), and Chrysler Building's EU co-owner also goes bankrupt. Rene Benko's property empire, previously valued in billions, is now revealed to be overly optimistic, affecting creditors.
On paper, Rene Benko's property empire is worth billions. His creditors are about to find out that those valuations are too optimistic. https://t.co/qZVV2sx6VV
Chrysler Building's EU Co-Owner Goes Bankrupt https://t.co/5SQgMgBpVo
A British bungalow tycoon who was said to be a billionaire earlier this year is declared bankrupt by an English court, with company debts of £725 million ($916 million) https://t.co/P1cnq1p8T6
⚠️ FACTBOX-BENKO'S COMPLEX WEB AT SIGNA - FROM CHRYSLER BUILDING TO BERLIN LANDMARK Signa Holding's insolvency on Wednesday has cast a spotlight on the complex structure of the debt-ridden Austrian property empire, whose holdings span from New York's Chrysler building to shares… https://t.co/BKXgSmVIqZ
Signa group's SportScheck retailer to file for insolvency - reports https://t.co/k7RMOZM1eM https://t.co/ETk0gdgM1y