Hypo Group: Settlement Rejected by BayernLB

People ♦ Published: April 1, 2014; 10:40 ♦ (Vindobona)

The majority stockholder of BayernLB, the former parent company of Hypo Group Alpe Adria, is not willing to negotiate about a settlement with the Austrian problem bank.

BayernLB rejects any compromise with regard to former affiliate Hypo Group. / Picture: © BayernLB

The Bavarian Finance Minister Markus Söder announced on Monday evening that the State of Bavaria, as the majority holder of regional lender BayernLB, does not see a reason to comply with the Austrian requests and agree on a settlement. “We have a clear legal position and a long breath,” Söder claimed. Hence, BayernLB insists on the repayment of the loan granted to its…