Signa Unit Bondholders Balk at Impact From Kaiser-Era Law [BNN Bloomberg (Canada)]
WIENERBERGER BSTOFF S/ADR (WBRBY)
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Source: BNN Bloomberg
the Austro-Hungarian Empire from limiting their ability to pursue claims against the insolvent firm. Lawyers for the property unit of the Signa group recommended that a court-appointed kurator represent collectively the holders of the €300 million ($329 million) defaulted notes during the self-administration process, according to insolvency filings seen by Bloomberg News. While neither the court nor the administrator has confirmed any appointment, bondholders have filed a submission objecting to that appointment via their trustee Deloitte LLP, according to people familiar with the matter, who spoke to Bloomberg on the condition of anonymity. Spokespeople for Signa Development's insolvency administrator and Deloitte didn't immediately respond to requests for comment. Under the country's Curator Law — introduced under Kaiser Franz Joseph in 1874 — the appointment of the kurator means that individual bondholders will not have a direct seat at the table during restructuring negoti
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