Austria: Investigations on Loan to Alpine

Politics ♦ Published: June 21, 2013; 12:13 ♦ (Vindobona)

Apparently ailing bank Hypo Group plays a role in the bankruptcy of Austrian construction company Alpine. The bank is supposed to have granted a bridge loan.

Austria: Investigations on Loan to Alpine / Picture: © Hypo Alpe-Adria-Bank International AG

The bridge loan in the amount of € 25m of Hypo Group to construction company Alpine, which was granted in August 2012 and prolongued in October, is now the priority of investigators in the Carinthian town Klagenfurt. The criminal complaint was filed recently and forwarded to the public prosecutor responsible, who is now examining the case, according to a spokeswoman of the authority.…

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