Creditors want around 6.3 billion euros from Signa Prime

This emerges from a press release from the restructuring administrator Norbert Abel. Of the 219 claim registrations so far, only around 2.6 billion euros have been recognized. The liabilities are likely to be intercompany receivables from the Signa Prime group of companies that have not yet been registered “increase substantially”while the planned real estate sales are on the liabilities side “still reduce significantly” should.

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Future secured for now

As recently became known, individual properties that are grouped under the umbrella of the insolvent luxury real estate company Signa Prime are to be sold in order to raise the necessary funds for the renovation. These include the Park Hyatt, the Golden Quarter and the Constitutional Court building in Vienna, as well as the Tyrol department store in Innsbruck.

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The future of Signa Prime should therefore be secured for the time being. “From the current perspective of the restructuring administrator, the financing of SIGNA Prime Selection AG’s operations continues to be secured according to the financial plan presented”the redevelopment administrator’s statement continued.

The restructuring plan is being further examined

In the meantime, the review of the appropriateness and feasibility of Signa Prime’s proposed restructuring plan will continue. The real estate company, which went bankrupt at the end of December, is known to be offering its creditors a quota of 30 percent within two years. The restructuring plan of the important Signa company will be voted on on March 18th.