(Bloomberg) — Rene Benko, the founder of the ailing Signa conglomerate, filed for personal insolvency at an Austrian court that was in the process of reviewing his personal finances.
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Benko made the filing voluntarily, Norbert Wess, a lawyer for the businessman told Bloomberg by email, confirming earlier media reports by the Kronen Zeitung newspaper.
The decision deepens the private fallout for the tycoon from the financial meltdown at his property and retail empire, large parts of which sought creditor protection last year.
Read: Signa Founder Goes From High-Flying Billionaire to Wealth Blowup
Benko holds majority stakes in most Signa companies via Austrian private trusts, the Family Benko Private Foundation an…
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