Signa Settlement Talks Fail Over Secret Asset Register Dispute

Insolvency administrators for the Signa Group are escalating efforts to recover funds, announcing legal action against former executives after out-of-court settlement talks faltered.

The administrators are pursuing claims totaling around one billion euros, accusing former managers and supervisory board members of failing to recognize the company's dire financial situation before its insolvency filing in late November 2023. A report from auditor Deloitte suggests the company was already insolvent a year prior, with an additional 650 million euros lost before the official filing.

The core of the dispute lies in a demand for a secret asset register. Administrators require former executives to disclose their assets to determine a settlement percentage. However, some individuals, reportedly including representatives from Germany and the Peugeot family's investment company, are resisting this disclosure, complicating negotiations.

While many lawyers representing former managers and supervisory board members have shown willingness to negotiate, the resistance from key figures has stalled progress. The administrators have set a firm deadline, stating that any claims not settled by early the fourth quarter of 2026 will be pursued through legal channels.