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...The complaint was filed with Austria’s State Prosecutor for Economic Crime and Corruption (WKStA) late last week by a Viennese law firm on behalf of a group of international, institutional investors who...
...Austrian insolvency law allows for a six-month process of “self administration” where management can try to work through an insolvency themselves, with a view to saving the businesses....
...A third-party administrator, Andrea Fruhstorfer of the Austrian law firm EcoLaw is supervising the process. The Signa Group’s collapse is one of the most complicated corporate bankruptcies in Europe....
...As Jones put it: “You might think it puts on notice the sort of character Mr Burke is [and the] sort of services he provides.”...
...The loan was extended in the summer of 2023, at a period when the WKStA believes it was already clear to Benko the Signa Group was financially in trouble....
...Munich’s state prosecutor is looking into allegations of money laundering at the Signa Group, René Benko’s collapsed luxury property empire....
...In January the FT reported on huge unexplained flows of money between Signa-group entities and Benko’s Austrian foundations, which had raised alarm bells for creditors as they gained information of the group...
...In a concession criticised by pro-legalisation groups and commercial cannabis producers, the government shelved plans for the widespread licensed sale of cannabis in public shops....
...The group reported in detail on Marsalek’s long-standing relationships with Russian intelligence operatives....
...The country has requested EU approval for a proposed law that would require supermarkets to label products where volumes had been reduced by a certain amount....
...“If [Europe] adopts this law, then they’re going to stay competitive. What I do know is if they don’t adopt this law, then there’ll be a cloud of suspicion over industry.”...
...Campaign clips: the latest election headlines Biden’s campaign will keep using TikTok despite the divest-or-ban law he just signed....
...It applied for “self-administration” under Austrian law, a procedure by which its management would seek to restructure the company themselves....
...“There were certainly consumer groups already at a disadvantage. As inflation rose quickly, it put some added strain and pressures on their households.”...
...“I’ve never seen anything like this,” says Jarryd Anderson, co-chair of the financial services group at law firm Paul, Weiss....
...The heavily indebted group said in a statement on Wednesday it had applied for self-administration — a concept in Austrian corporate law where a company works to try to restructure itself without handing...
...Veteran pollster Frank Luntz, who conducted a focus group with 19 swing voters after the speech, said members of the group “felt like he was seeking re-election rather than doing a State of the Union, and...
...chief executive, said the company had yet to be served with legal papers by FourWorld, but added: “[We] insist that all [Frontline’s] dealings in relation to Euronav have been in accordance with applicable law...
...Sellner abandoned a law degree for what he considered his calling: politics....
...regulations and culture “[were] not in conformity with international standards on preventing and combating corruption and [were] not apt to prevent the high risk of corruption associated with the Trafigura group...
...The White House said Biden stressed the need for peace and stability in the Taiwan Strait and the rule of law in the South China Sea....
...emails released under transparency laws....
...“I remember her telling me [Fiat] was going to end up like Parmalat,” he told the FT, referring to the Italian food group that collapsed in 2003....
...James Edwardes Jones, analyst at RBC Capital, said his concerns were addressed but that the scale of the litigation risk was still uncertain....
...We will continue to fight it in all its forms with the full rigour of the rule of law.”...
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