Attestor Limited Infuses New Lifeline into Signa Prime Selection AG with 100 Million Euro Loan

Signa Prime Selection AG, a company under the Signa Group umbrella that houses luxury properties, has received much-needed liquidity with a massive loan of up to 100 million euros from British Asset Manager Attestor Limited. This loan will allow Signa Prime to implement a restructuring plan under the guidance of Norbert Abel, the restructuring manager. The details of the loan remain undisclosed, but it has provided relief and relaxation within the company.

On December 28th of the previous year, Signa Prime Selection began its restructuring process with self-administration. The mass loan from Attestor Limited ensures that an orderly disposal of the properties can take place, preventing rushed sales at lower prices. Attestor Limited is a London-based asset manager founded by German investor Jan-Christoph Peters in 2012 and manages around 7 billion euros. The company has supported various restructuring efforts in Austria and Germany.

As part of the restructuring plan, creditors of Signa Prime Selection will receive all available assets to satisfy their claims, and Norbert Abel will take over as trustee once the plan is legally confirmed. With claims totaling 12.8 billion euros, the insolvency administrator has recognized approximately 6 billion euros so far. This assistance from Attestor Limited has provided a lifeline for Signa Prime Selection AG during this challenging time.