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…

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Alpine, Construction Industry, Banking Industry, Erste Group, Raiffeisen, VBAG, Bawag, Bank Austria, UniCredit, Italy, Spain, Bankia, Lending, Justice
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