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Munich officials did not want to comment on the report given to the newspaper. Benko’s lawyer said he was not familiar with the proceedings. According to “BamS”, it is about a construction project between Munich Central Station and Karlsplatz.
According to the report, Benko’s companies are said to have raised nearly a billion euros from banks and investors for the acquisition and development of the “New Center of Munich” project. They are said to have provided inflated information about future rental income in order to obtain larger loans at better terms. Most of the money is said to have flowed abroad.
In the bankruptcy case of Signa Prime Selection, a plan for the disposal of properties will be presented to creditors in Vienna on Monday (today). Creditors are scheduled to vote on the restructuring plan on March 18. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
