Erste Group Wins Lawsuit in Sweden

Professional Services › Banks ♦ Published: April 21, 2011; 15:58 ♦ (Vindobona)

In a legal dispute over shares in a Swedish bank worth € 225m, the position of the Austrian Erste Group was able to prevail.

Erste Group Wins Lawsuit in Sweden / Picture: © Erste Group / Helmut Lackner

In 2007, the Erste Group granted a credit to the Swedish Savings Bank Foundation, which could not be served as a result of the financial crisis in 2008. Swedbank shares were deposited as collateral for the loan: the value of the 4% stake in the bank amounts to € 225m.

When the Erste Group acquired the shares in early 2009, the figure was still well below today's value. The…

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