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Atrium: "Meinl Exploited its Position as a Trustee”

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: © Flickr

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…

This article includes a total of 212 words.

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