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Investkredit Funding Ltd. / EGM approves wind down of Österreichische Volksbanken-Aktiengesellschaft

Published: December 23, 2014; 18:30 · (Vindobona)

An Extraordinary General Meeting of Österreichische Volksbanken-Aktiengesellschaft (VBAG) today unanimously took the decision in principle that VBAG's business model is to be changed. The aim is for VBAG to become a "run down company" (Abwicklungsgesellschaft) in particular as per Section 162 of the draft Federal Law on Bank Recovery and Resolution (Banken Sanierungs- und Abwicklungsgesetz). When VBAG is put into run down status, it is also planned for central institution functions and related assets and liabilities to be taken over by Volksbank Wien-Baden AG.

Investkredit Funding Ltd. / EGM approves wind down of Österreichische Volksbanken-Aktiengesellschaft / Picture: © Vindobona

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Strategic management decisions/Company Information
23.12.2014

An Extraordinary General Meeting of Österreichische
Volksbanken-Aktiengesellschaft (VBAG) today unanimously took the decision in

This article includes a total of 410 words.

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