Julius Baer is not the only one affected: Credit Suisse is said to have awarded Benko 100 million francs

class = “sc-cffd1e67-0 fmXrkB”>

As announced, Signa Holding’s restructuring manager Christof Stapf takes the red pen. Meanwhile, bankruptcy proceedings regarding the deceased billionaire René Benko and the Signa Group continue. The most interesting thing about the Swiss financial center is: Which Swiss bank fell into Benko’s bankruptcy?

What is known: Julius Baer recently announced a 606 million-franc loan to a “European conglomerate.” This refers to the Signa Group. Now Tagesanzeiger is bringing in Credit Suisse, citing insiders. It is said that the bank gave loans of approximately 100 million francs to Benko companies in 2020. However, CS later reduced the loan amount again. “The loan today is apparently in the mid-double-digit million range,” the newspaper reported.

Spicy: According to insiders, this CS loan is not adequately secured by real estate. But it’s “a significant portion of it, along with other securities,” that are currently declining. If that’s the case, UBS, where CS lending now falls under its purview, could be in danger of write-offs.

Benko was removed from the Forbes list

One more thing is known today: Swiss Signa Retail Selection AG, co-owner of Globus, has been approved for a temporary moratorium. This corresponds to 4 months. A week ago, it was said that the moratorium was aimed at preventing Swiss Signa Retail Selection from becoming dependent on insolvency proceedings of the Austrian parent company.

Signa Retail Selection holds a 50 percent stake in Globus. Thai Central Group, which also holds 50 percent of the department store chain, had previously confirmed its commitment.

What will affect René Benko very badly: He will be removed from Forbes’ list of famous billionaires. According to the news of Austrian portal Oe24, he is no longer allowed to carry the title of Forbes billionaire. The decision concerns the bankruptcy of the Signa Group. (euro)

Source :Blick