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Germany: Proceedings against Take-Over of Hypo Group to Start
Politics ♦
Published: October 28, 2013; 16:07 ♦ (Vindobona)
On Thursday the Higher Regional Court in Munich has decided to admit the prosecution against the take-over of Hypo Group Alpe Adria, which had earlier been rejected by the Regional Court as implausible.
Germany: Proceedings against Take-Over of Hypo Group to Start / Picture: © Hypo Alpe-Adria-Bank International AG
Former heads of German BayernLB Michael Kemmer and Werner Schmidt as well as former members of the bank’s supervisory board will have to justify the acquisition of the problem bank.
In May 2007, German BayernLB acquired Hypo Group. In 2007 and 2008, BayerLB accelerated the aggressive growth strategy in the Balkan region. In the years from 2002 to 2008, Hypo Group expanded its…
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