Chrysler Building's Austrian Backer Tumbles Out Of Billionaire Ranks
René Benko built his real estate fortune on debt. His empire is now unraveling as it struggles to pay its bills.
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René Benko built his real estate fortune on debt. His empire is now unraveling as it struggles to pay its bills.
René Benko built his real estate fortune on debt. His empire is now unraveling as it struggles to pay its bills.
The Austrian promoter's debts have reached around five billion euros, according to creditor protection associations KSV1870 and Alpenländischer
By Alexandra Schwarz-Goerlich, John O'Donnell and Emma-Victoria Farr
Signa Insolvency: Controlled by Austrian magnate Rene Benko, Signa group is an owner of New York's Chrysler Building as well as several high-profile projects and department stores across Germany, Austria and Switzerland.