Sharp Attack Against Hypo Group

Businessn.a. ♦ Published: December 15, 2012; 21:40 ♦ (Vindobona)

The legal dispute between Austrian Hypo Group and German BayernLB escalates. The majority owner of BayernLB announced that Hypo Group´s lawsuit will be fought by all means.

Sharp Attack Against Hypo Group / Picture: © Wikipedia / JJ55 (30 March 2008)

“We want the money back.” Bavaria´s Minister of Finance Markus Söder says. According to Söder, Hypo Group´s moratorium is a “clear breach of contract”. The German Federal State of Bavaria is the majority owner of BayernLB, which sold Hypo Group to Austria three years ago.

According to the Austrian nationalized bank, the loan at BayernLB is no liability, but equity. At…