Massive Losses for Alpine: € 5bn in Debts

Politics ♦ Published: August 29, 2013; 10:50 ♦ (Vindobona)

According to the reports of the insolvency administrators, reasons like a chaotic management and low-price offers that did not prove cost-covering led to massive losses in projects abroad.

Massive Losses for Alpine: € 5bn in Debts / Picture: © Alpine Logo Press Photo

In the investigation procedure concerning the € 5bn bankruptcy of construction company Alpine, the prosecution for economy and corruption has found new details:

“We work closely together with the insolvency administrators and have received extensive written reports of the liquidator,” spokesman of prosecution Erich Mayer told Austrian daily “Kurier”. “Currently, we…