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Hypo Group: Investors Claim Refunds
Politics ♦
Published: November 20, 2013; 10:57 ♦ (Vindobona)
A group of aggrieved investors in Hypo Group Alpe Adria files claims for damages. These so-called small investors provided amounts from € 30,000 to € 300,000 and feel disadvantaged compared to bigger investors.
Hypo Group: Investors Claim Refunds / Picture: © Wikipedia / JJ55 (30 March 2008)
In 2001 the bank’s affiliate located on the channel island Jersey issued preference bonds with interest rates of 7.375 percent for which the parent company Hypo Group Alpe Adria submitted a letter of responsibility (guarantee of equity and financing). However, because of the financial difficulties investors have not been compensated since 2009. Instead, the bank offered to repurchase…
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