Hypo Group: Serious Allegations Against Kulterer

People ♦ Published: October 29, 2010; 16:01 ♦ (Vindobona)

The former airline “Styrian Spirit" is said to have been financed without collateral, according to expert opinion. Kulterer defends himself and points to guarantee commitments by Jörg Haider.

Hypo Group: Serious Allegations Against Kulterer / Picture: © Hypo Alpe-Adria-Bank International AG

Wolfgang Kulterer, former CEO of the tarnished and emergency-nationalized Hypo Group Alpe Adria (HGAA), is heavily compromised by a report from experts. Kulterer is said to have granted oversized loans to the former Styrian airline "Styrian Spirit". Additionally, no guarantees were requested. The airline could not be kept alive.

The report states: "There was no collateral…

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