PANDION’s Self-Administration Gamble: Five Subsidiaries Follow Parent Into Insolvency as Bondholders Await September Webcast

The separation between corporate shell and building site was meant to be PANDION’s lifeline. Now that distinction has all but collapsed. The Cologne-based property developer has extended its insolvency filings to five operating subsidiaries — PANDION Real Estate, PANDION Vertriebsgesellschaft, PANDION Design, PANDION Projektmanagement and PANDION Engineering — just days after the parent company…