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Germany s RAG foundation writes off entire Signa investment -FAZ

Germany s RAG foundation has written off all of its investments in Rene Benko s insolvent Signa Group, RAG Chief Executive Bernd Toenjes said in an interview with Frankfurter Allgemeine Zeitung. -January 30, 2024 at 01:33 pm EST - MarketScreener

Germany s RAG foundation writes off entire Signa investment -FAZ

Germany s RAG foundation writes off entire Signa investment -FAZ
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Private Credit Is Changing Everything, Even Bankruptcy | Chief Investment Officer

Restructuring professionals report an uptick in both restructuring activity and private equity sponsors considering turning indebted businesses over to their lenders.

Hamburg Elbtower skyscraper builder files for insolvency

After the construction of one of Germany's tallest buildings suddenly came to a halt in October, the owner of the Elbtower property, Elbtower Immobilien, has filed for insolvency, the city of Hamburg said on Friday. The insolvency allows the city to assert its repurchase right and take over all planning and construction contracts, the city development authority said. The construction site has been at a standstill since the end of October 2023 because the contracted construction company's invoice

Bankrupt German department store chain reportedly in investor talks

Executives from struggling German department store chain Galeria Karstadt Kaufhof (GKK) are reportedly in talks with US cosmetics group Coty and other investors about a possible takeover of the chain's stores. The talks were reported by several media outlets, but the provisional insolvency administrator overseeing Galeria Karstadt Kaufhof's bankruptcy proceedings declined to comment on details. "There are more than two interested parties. We cannot say any more about this at the moment," Stefan

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