Austrian State Sues Six Banks

Politics ♦ Published: January 17, 2014; 14:17 ♦ (Vindobona)

The Republic of Austria filed lawsuits against six lending banks of bankrupt construction enterprise Alpine.

Austrian State Sues Six Banks / Picture: © Alpine Logo Press Photo

The Republic of Austria has filed a lawsuit against six Austrian banks: Bawag, Erste Group, VBAG, Raiffeisenbank Upper Austria, Bank Austria and Spanish Bankia, which all granted loans to bankrupt construction company Alpine. The sum in dispute is € 80m.

As reported by daily “Standard” (Friday issue), the Austrian state appealed against its declaration of liability as it…