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Austria Bought Time for Examining Hypo Deal

Published: December 23, 2013; 18:03 · (Vindobona)

Austria was granted more time for a possible appeal of the purchase of problem bank Hypo Group Alpe Adria from former parent company BayernLB.

Austria Bought Time for Examining Hypo Deal / Picture: © Wikipedia / JJ55 (30 March 2008)

The Austrian state has one more year to examine an appeal of the purchase of ailing Hypo Group. As confirmed by both sides, BayernLB granted the Austrian Finance Ministry a respite until the end of 2014 which is the time until Austria can file a claim for deception.

On December 31, the time would have expired for Austria to appeal against the purchase. Two expert reports have…

This article includes a total of 204 words.

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