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BayernLB has to Wait 7 Years for 3.9 Billion from Carinthia

Published: September 28, 2010; 13:42 · (Vindobona)

After the debacle of the Hypo Group Alpe Adria (HGAA), the Bayerische Landesbank will have to wait up to 7 years for the repayment of the 3.9 billion euro. The repayment plan provides for this period.

BayernLB has to Wait 7 Years for 3.9 Billion from Carinthia / Picture: © BayernLB

The repayment schedule for the sum of 3.9 billion euro over a period of several years, has been agreed on, it is stated in financial circles. BayernLB had been forced to turn the bank over to Austria last year after a financial fiasco. However, 3.9 billion euro of liquidity were left in the bank after negotiations, since the HGAA would have gone bankrupt had BayernLB withdrawn the…

This article includes a total of 388 words.

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