Mubadala’s €700 Million Signa Award Tests Austria Insolvency

Mubadala Investment Co won more than €700 million ($826 million) from an arbitration linked to the insolvent Signa conglomerate, a decision that’ll likely test Austrian insolvency law as creditors scrap to recoup losses from the defunct firm.

Insolvency administrators and Austrian courts will now need to decide on how to handle the award that was granted outside the domestic insolvency regime, according to the Creditreform creditor association.