Benkos Chrysler cloud scratch sold in New York
The insolvent Signa Group sold its shares in the famous Chrysler Building in New York. This was announced by the insolvency administrator of Signa Holding GmbH, Christof Stapf, in Vienna. The « Wirtschaftswoche » had previously reported on the sale.
The Signa Group of the Austrian entrepreneur René Benko acquired around half of the shares in the 319 meter high skyscraper in 2019. This participation is now moving to Aby Rosen and Michael Fuchs from the real estate investment company RFR Holding, which had already been involved in the landmark built in 1930.
Small proceeds, but great debt discharge
Signa Holding received five million euros for a New York real estate package, which includes the shares in the Chrysler building. In the price, claims and attachments were taken into account, it said. As part of the business, buyers also withdrawn an insolvency claim of around 50 million euros.
After years of strong expansion, Signa Holding reported bankruptcy at the end of 2023. Rising interest rates, energy prices and construction costs brought Benko's opaque company construct. However, according to an expert opinion, the holding company was insolvent at least a year earlier, Stapf said.
Holding creditors demand a total of around 7.7 billion euros. So far, the insolvency administrator has only recognized 2.16 billion euros. Benko is in custody in Vienna. Run against the ex-billionaire also in Luxembourg Several investigations, among other things because of alleged fraud and infidelity. His lawyer denied the allegations.
