The Anatomy of a Slow Collapse
Signa Holding: €40 billion in creditor claims, one invisible assumption, and 18 months nobody used. Entity: Signa Holding GmbH, Vienna. Real estate and luxury retail conglomerate. Filed for insolvency: November 2023 Debt at collapse: ~€13 bn in real estate assets; creditor claims exceeding €40 bn Time between cause and consequence: