Atrium: "Meinl Exploited its Position as a Trustee”

Business › n.a. ♦ Published: February 1, 2011; 00:20 ♦ (Vindobona)

After the repayment of the convertible bond to the Austrian Meinl Bank, the real estate funds considers the calling as "blatant unlawfulness."

Atrium: "Meinl Exploited its Position as a Trustee” / Picture: © Vindobona.org

There is no foreseeable end yet for the dispute between Meinl Bank and the real estate fund Atrium. To reduce the risk of a "cross default", the Fund decided last week to repay the convertible bond called by Meinl for € 20m.

In case of non-repayment, Meinl announced it would call all other bonds worth € 283m (cross default). Meinl Bank acts as trustee for these bonds, as…

or Log In

Fast News Search
Related News
Meinl Bank to Cancel Previously Scheduled Bondholder Meeting (January 28, 2011)
Meinl Bank Continues to Claim Default of Atrium (January 27, 2011)
Atrium Repays Convertible Bond to Meinl (January 24, 2011)
Atrium Intends to Clarify Purported Event of Default (January 22, 2011)
Meinl Bank: New Attacks Against Atrium (January 21, 2011)
Atrium Reacts Sharply to Meinl´s Lawsuit (December 31, 2010)
Read More
Investment Funds, Property Market, Justice, Funding, Meinl Bank, Real Estate Industry, Atrium, Banking Industry
Featured
See latest Vindobona Newsletter