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BayernLB: “Hypo Not Willing to Pay“

Published: November 13, 2013; 14:38 · (Vindobona)

Because of the legal dispute with Austrian problem bank Hypo Group Alpe Adria, former German parent company BayernLB announced not to increase its risk provision.

BayernLB: “Hypo Not Willing to Pay“ / Picture: © BayernLB

According to BayernLB’s CFO Stephan Winkelmeier, this was the result of talks with auditors. The CFO claimed that Hypo Group was “able but not willing to pay.”

On November 25, the first court date will take place in the dispute between BayernLB and former affiliate Hypo Group, which the parent company claims € 2.3bn from. The German bank argues that this amount of capital…

This article includes a total of 230 words.

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