Chrysler building owner under fire as property empire teeters

Shareholders have called on Benko to hand over the reins to a restructuring expert, according to German newspaper Handelsblatt. — Bloomberg

OVER a decade of rapid growth, Rene Benko lured some of Europe’s richest investors and lapped up high-profile property including New York’s Chrysler Building. Now he’s fighting to stay in control of his company.

Rising interest rates, plunging valuations and a cash squeeze have left Signa Holding GmbH’s investors knocking at the Austrian tycoon’s door.