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HYPO Group: Further Liabilities Necessary?
People ♦
Published: October 25, 2010; 15:15 ♦ (Vindobona)
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The Carinthian HYPO Group would suffer massive losses should it sell its real estate in the Balkans. Due to the write-offs, new liabilities of the Republic might be required.
HYPO Group: Further Liabilities Necessary? / Picture: © Hypo Alpe-Adria-Bank International AG
The emergency-nationalized in 2009 HYPO Group Alpe Adria Group might need further support from taxpayers because of speculations.
The reason for the new need of liabilities is that assets currently could only be sold below their book value, because the real estate markets in the Balkan countries have plummeted since 2008. This involves a volume of 1.5 billion euro, comprising…
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