The Arab sovereign wealth fund, which is taking action against the real estate tycoon and his partner, has failed in the urgent procedure. The prominent advisory board of the Signa group holding company is being dissolved.
The Arab sovereign wealth fund Mubadala wanted to quickly get 713 million euros after the bankruptcy of René Benko’s Signa Holding. The failed real estate magnate Benko, some of his co-owners at Signa and several Signa companies were supposed to pay. But it doesn’t happen that quickly. According to Signa’s restructuring manager, the Mubadala sovereign wealth fund was unsuccessful in its urgent proceedings before an international arbitration tribunal.
