Overview

• The Signa Group, led by Austrian businessman René Benko, sold its stake in New York's Chrysler Building for €5 million as part of its bankruptcy process.
• The new owners, Aby Rosen and Michael Fuchs of RFR Holding, were already partial stakeholders in the landmark building, which they acquired additional shares of in the deal.
• The sale also resulted in the withdrawal of a €50 million insolvency claim by the buyers, providing some relief to Signa's financial obligations.
• Benko's Signa Group, once a major European real estate player, collapsed in late 2023 under mounting debt, with creditor claims totaling €7.7 billion.
• René Benko, currently in custody and facing investigations in Austria, Germany, and Italy, is accused of financial misconduct linked to the collapse of his business empire.