Hypo Group: Already a “Catastrophe“ in 2006

Published: April 28, 2014; 19:51 · (Vindobona)

In the court proceedings against the former member of the supervisory board of regional lender BayernLB former head of Hypo Group’s board Wolfgang Kulterer called the situation Hypo was in a “catastrophe”.

Court proceedings against former BayernLB board members continue. / Picture: © Flickr

According to former chairman of Hypo Group’s supervisory board Kulterer, the Austrian bank was in a disastrous state shortly before the take over of German regional lender BayernLB. “A catastrophe to say the least,” Kulterer said on Monday as a witness in the proceedings against former members of BayernLB’s board at the Regional Court in Munich about the state of Hypo Group in…

This article includes a total of 210 words.

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