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Fears of Worst-Case Scenario in Signa Insolvency Proceedings
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4 Articles
The Mubadala State Fund brought an action at the International Arbitration Court (ICC) in the Signa-Pleite. The verdict could upset the domestic Signa proceedings.
vienna.at+2 Reposted by 2 other sources
The verdict from the International Civil Court (ICC) is eagerly awaited in the Signa multi-billion-euro bankruptcies. The UAE sovereign wealth fund Mubadala has filed a claim of approximately €900 million against Signa companies and founder René Benko. Regardless of the ruling, the costs of the proceedings alone could push Signa's insolvency proceedings in Germany to the point of "bankruptcy within bankruptcy"—a worst-case scenario for creditors…
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