BayernLB Lodges Claim of Almost € 5bn

Politics ♦ Published: November 25, 2013; 10:01 ♦ (Vindobona)

The value in dispute in the legal discussions between German BayernLB and fromer affiliate Hypo Group Alpe Adria runs up to almost € 5bn.

BayernLB Lodges Claim of Almost € 5bn / Picture: © Hypo Alpe-Adria-Bank International AG

During the time when BayernLB was the majority holder of nationalized problem bank Hypo the German bank granted loans of € 4.8bn. For almost a year Hypo Group has been refusing to pay back the outstanding amount of € 2.5bn since the bank is still in its restructuring phase and therefore is faced with an officially authorized payout block. However, the German bank immediately still…