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Hypo Group: Already a “Catastrophe“ in 2006
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: © Vindobona.org
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…
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