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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Creditors of one of the main companies in René Benko’s Signa Group have alleged it fell into insolvency because of “illicit” financial transactions, not a downturn in the European property market.
Their claim contradicts earlier findings of the company’s insolvency administrator and statements by Signa’s management and shareholders, which have so far pinned blame for the luxury property conglomerate’s collapse on rising interest rates and their impact on property valuation models.
Signa Development Selection was one of the three central entities in the Signa Group. It was declared insolvent on…
