Erste Group and Bank Austria Face Lawsuits

Politics ♦ Published: January 2, 2014; 15:06 ♦ (Vindobona)

Two Austrian lending banks are involved both as plaintiffs and as defendants in bankrupt construction company Alpine’s court trials.

Erste Group and Bank Austria Face Lawsuits / Picture: © Alpine Logo Press Photo

Since the Federal Law Office has refused payments from liabilities in the amount of € 151m seven Austrian banks have filed a lawsuit against the Republic of Austria in November last year. However, now two are facing lawsuits themselves.

According to Austrian magazine “profil”, liquidator of bankrupt construction company Alpine, Karl Engelhart, has filed lawsuits against two…

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