Add this topic to your myFT Digest for news straight to your inbox
Group of creditors to René Benko’s property empire seek urgent investigation into collapsed group
The struggles of two Swiss retail institutions and the collapse of René Benko’s Signa Group reveal a waning business model
Philipp Rickenbacher will leave Swiss wealth manager after loans to troubled property group soured
Philipp Rickenbacher will be replaced by his deputy as bank exits its private debt business
Holding company of Rene Benko’s luxury property group hit with €8.6bn claims from creditors
Plus, the UK flags deals from UAE buyers and a ‘snowball’ derivative crisis grips China
Disclosure raises fresh questions about how much lenders can hope to recoup from collapsing property group
Documents show administrator does not expect the money to be recouped
Collapsed property empire’s development of Hamburg’s ‘Elbtower’ was once championed by Olaf Scholz
Erhard Grossnigg wants cash to avoid selling incomplete projects at knockdown prices
Not so much a firesale as a smoke Signa
Collapsed European property company founded by René Benko faces painful wind-down, warns administrator
Investigators are probing whether property tycoon benefited from sweetheart terms on key developments
European property developer’s collapse could spell trouble for the commercial real estate sector
René Benko’s indebted group relied heavily on funding from German insurance groups
Boards of troubled luxury real estate group say contract of Timo Herzberg terminated with immediate effect
Plus, bankruptcy protections face a Supreme Court test and Toyota fuels rising hopes of a governance revolution in Japan
Non-essential staff made up the bulk of property holding company’s staff, court filing shows
Liabilities climbed to €5bn in September, up from about €2bn at the end of 2022
René Benko’s luxury property group offloaded 50% of department store at fraction of its internal valuation
The players and properties at the centre of one of Europe’s highest-profile restructurings
Lenders across Europe race to assess their exposure to sprawling empire of Austrian billionaire René Benko
No deal was reached with hedge fund after efforts to secure more than €400mn of financing
Swiss wealth manager’s decision comes amid financial crisis at Austrian property group Signa
Swiss lender has taken $79mn in ‘valuation adjustments’ against its loan book since the end of October
UK Edition
