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New Meinl Bank to Pay 36 Million Euro to Damaged European Land Investors
The legal successor to Meinl-Bank, AAB Anglo Austrian Bank AG, will pay around EUR 36 million to settle the claims of the remaining investor proceedings of approx. 4,000 investors of the former MEL Meinl European Land. Simultaneously, AAB starts a repositioning in which the credit business and the payment transactions are to be reduced, while the advisory business and investment banking are to be focused on.
New Meinl Bank to Pay 36 Million Euro to Damaged European Land Investors / Picture: © Wikimedia Commons / L'Arnq [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)]
AAB Anglo Austrian Bank AG has concluded an agreement with AdvoFin Prozessfinanzierung AG (AdvoFin) to streamline the remaining investor proceedings concerning MEL Meinl European Land.
On 24 August 2019, exactly 12 years after the start of the MEL case, AAB Bank concluded a framework agreement with AdvoFin for the final settlement of the claims of the remaining approximately…
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