European restructuring proceedings: Last lifeline before insolvency?

In the history of Austria’s economy, few insolvency cases have caused as much uproar as the insolvency of the SIGNA real estate group. The insolvency of SIGNA Prime Selection AG (“Company”) as a major subsidiary of SIGNA is one of the largest of all time in Austria, especially in terms of the amount of claims filed. Moreover, this case is of great interest as the Company holds numerous highly prestigious properties in Vienna and abroad. It is widely considered the centrepiece of SIGNA, drawing particular attention from media outlets.