Cigna may sell assets to German Scholler Group…

A panel of creditors has again not approved the sale of luxury real estate to the Scholler family of German businessmen. Properties include the Golden's Quarter, the Hotel Park Hyatt in Vienna and the Tyrol department store in Innsbruck.

A meeting of creditors of bankrupt Cigna Prime has refused to re-approve the sale of luxury real estate to the Scholler family of German tycoons. According to informed lender sources, the Scholar deal has finally been terminated. On Monday, a group of creditors spoke against the sale to Schoeller and finally rejected the transaction on Wednesday. There is no explanation as to why some lenders do not have a contract alternative.

Properties include the Golden's Quarter, the Hotel Park Hyatt in Vienna and the Tyrol department store in Innsbruck. The German entrepreneurs last summer helped René Benko's Cigna Prime Selection out of a liquidity crunch with a 200 million euro loan, in return for ownership in a financing company, Cigna Prime Capital Invest GmbH. supermarket in Vienna, KaDeWe in Berlin and the Elbtower project in Hamburg. (APA)

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