Page 9 - Signa Development News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Bloomberg) -- Austrian tycoon Rene Benko’s Signa filed for insolvency after a last-ditch attempt to raise emergency funding failed, making the co-owner of New York’s Chrysler building one of the most prominent casualties of Europe’s property crisis.Most Read from BloombergCharlie Munger, Who Helped Buffett Build Berkshire, Dies at 99Musk’s Cybertruck Is Already a Production Nightmare for TeslaBill Ackman Bets Fed Will Cut Interest Rates as Soon as First QuarterHamas Releases 12 Hostages Despite

The filing is a bitter blow for self-made mogul Rene Benko

The owner of stakes in high-profile real estate is at risk of becoming one of Europe’s largest property meltdowns since the global financial crisis.

Thailand’s Central Group last month took control of iconic UK department store Selfridges which Signa group owned. Read more at straitstimes.com.

The Austrian property group that co-owns New York's iconic Chrysler building has warned of an imminent "restructuring" that has cast a spotlight on several precarious projects -- and the wealthy tycoon behind the company.