VIENNA (Reuters) – The troubled European Signa holding company is facing claims totalling 8.613 billion euros ($9.32 billion), its court-appointed manager said on Monday, a figure that is 70% more than debts originally flagged last year when it filed for insolvency.
The insolvency manager, Christof Stapf, said that it had recognized only a fraction of the claims so far – just 80.3 million euros – and that many of the claims arrived without necessary supporting materials or late.
Signa is the biggest casualty so far of Europe’s property crisis. It announced debts of around 5 billion euros when it announced its insolvency last year.
Talks are still ongoing over the sale of Signa’s stakes in the Chrysler Building and its media holdings, Stapf said.
($1 = 0.9248 euros)
($1 = 0.9240 euros)
(Reporting by Alexandra Schwarz-Goerlich; writing by Tom Sims; editing by Matthias Williams)
