Signa Prime to Name New Supervisory Board to Oversee Disposal

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Shareholders of the main property unit of Rene Benko’s Signa conglomerate have nominated a new supervisory board as the insolvent company starts selling off assets.

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Signa Prime’s Loan From German Family Stymies New Funding EffortA €200 million ($218 million) loan to Signa’s flagship property unit has become a roadblock in attempts to sell off its assets and fund a restructuring, according to insolvency administrators.
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Attestor Backs Signa Prime Restructuring With €100 Million LoanTurnaround specialist investor Attestor Ltd will provide a loan of as much as €100 million ($108 million) to Signa’s insolvent luxury property unit, a key step toward avoiding a firesale of assets as it winds down.
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