Mubadala Files €1 Billion Claim Against Signa, Profil Says

Mubadala Investment Co. is seeking more than €1 billion ($1.1 billion) from troubled Austrian property and retail conglomerate Signa, including for the alleged violation of financial agreements, according to Profil magazine.

Companies affiliated with the Abu Dhabi sovereign wealth fund initiated two separate proceedings around the end of November, targeting several companies of the Signa group as well as its founder Rene Benko, the magazine said, citing a report from Signa Holding’s insolvency administrator Christof Stapf.

The legal filings highlight the challenge in keeping Signa in a self-administered restructuring, a form of insolvency that allows management to ...