US EditionMubadala Secures €700M Arbitration Award Amid Signa Collapse
16 Articles
16 Articles
Signa founder Rene Benko is said to have violated financing agreements with a state fund from Abu Dhabi. In the Austrian insolvency proceedings, his claims are rejected. The fund now takes money in another way. However, two Signa daughters get away with it.
Mubadala Secures €700M Arbitration Award Amid Signa Collapse
Abu Dhabi's Mubadala fund has been awarded over 700 million euros in arbitration concerning the collapse of Austria's Signa property empire. Signa, led by investor Rene Benko, fell into insolvency due to financial distress. The award's source remains undetermined amidst ongoing legal proceedings.
The legal aftershock of the Signa insolvency reached a new climax today. The Arbitration Court of the International Chamber of Commerce decided for the investors from Abu Dhabi. The verdict is likely to have far-reaching consequences for other proceedings.
wiwo.de
manager magazinLegal limp for René Benko: A state fund from Abu Dhabi has asserted itself in an arbitration case against the insolvent founder of Signa.
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