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Austria Bought Time for Examining Hypo Deal
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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: © Vindobona.org
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…
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