2024-04-12 04:25:12
The insolvency administrator of Signa Holding filed for bankruptcy proceedings on Thursday. The company is withdrawing a restructuring plan.
The insolvent Signa Holding of former real estate billionaire René Benko withdrew its restructuring plan application on Thursday and applied to the Vienna Commercial Court to change it to bankruptcy proceedings. The insolvency administrator of Signa Holding, Christoph Stapf, announced this on Thursday.
This means that there is no longer a minimum quota for servicing creditors’ claims. This was justified by the fact that the restructuring concept was based primarily on the value-preserving restructuring of the important investment companies – in particular Signa Prime and Signa Development.
As a shareholder, Signa Holding would only participate in the 4th place in the proceeds from the implementation of the trust restructuring plans of the two Signa core companies. Signa Holding is therefore no longer expected to have any significant investment values from its investments in Signa Prime and Signa Development, the statement said.