Austrian real estate mogul Rene Benko and his Signa empire, valued at €23 billion, are on the verge of a possible crisis, with rumors that several subsidiaries could announce insolvency in the coming weeks. 

Reuters reports that the group's financial problems include the urgent need for €600 million to cover a cash shortfall, and attempts to reach an agreement with investors and creditors are hampered by Signa's complex structure. Experts warn that this could become one of Europe's biggest property crises in recent years, with significant implications for the sector.