Signa Holding faces claims of $9 billion - insolvency manager
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The sign of Signa Holding is placed on a crane next to a construction site in Vienna, Austria, January 5, 2024. REUTERS/Leonhard Foeger/File Photo
VIENNA (Reuters) - The troubled European Signa holding company is facing claims totalling 8.613 billion euros ($9.32 billion), its court-appointed manager said on Monday, a figure that is 70% more than debts originally flagged last year when it filed for insolvency.
The insolvency manager, Christof Stapf, said that it had recognized only a fraction of the claims so far - just 80.3 million euros - and that many of the claims arrived without necessary supporting materials or late.
Signa is the biggest casualty so far of Europe's property crisis. It announced debts of around 5 billion euros when it announced its insolvency last year.
Talks are still ongoing over the sale of Signa's stakes in the Chrysler Building and its media holdings, Stapf said.
($1 = 0.9248 euros)
($1 = 0.9240 euros)
(Reporting by Alexandra Schwarz-Goerlich; writing by Tom Sims; editing by Matthias Williams)
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