Hypo Group Refuses to Repay Loans to BayernLB

Published: December 13, 2012; 22:57 · (Vindobona)

Today, the management board and the shareholders of the Austrian nationalized bank resolved to stop payments to the former owner BayernLB. BayernLB files a lawsuit against Hypo Group.

Hypo Group Refuses to Repay Loans to BayernLB / Picture: © BayernLB

The legal dispute between Hypo Group and BayernLB gains in ferocity. According to the Austrian nationalized bank, the loan at BayernLB is no liability, but equity. At the end of 2009, when Hypo Group was sold to the Austrian state, BayernLB granted a major loan to Hypo Group. The remaining loan with a size of € 2.3bn is due in 2013. In total, the sum in dispute comes at €…

This article includes a total of 211 words.

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