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Republic of Austria Opposes Restructuring of Signa Development
The Republic of Austria has filed an appeal against Signa Development's fiduciary restructuring plan, leaving the future of the restructuring process of the real estate conglomerate founded by René Benko hanging in the balance. This legal action could lead to a complete reassessment of the restructuring strategy.
The Signa Group, whose prominent projects include the Lamarr department store in Vienna, is involved in one of the largest insolvency proceedings in Austrian history. Although the restructuring plans for Signa Prime and Signa Development were initially given the green light by the…
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