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Austrian Economic Legal Issues and Insolvencies

Hypo: Deal with Russian Oligarch with “Proper Mortgage”

The investigations into money laundering at the Federal Criminal Office concerning the business with Russian oligarch Vladimir Antonov were brought to an end without any results. There were no arms among the securities.

June 20, 2013

Czech Republic: Nemcova Nominated As Prime Minister

Petr Necas’ handed in his resignation on Monday after a bribery scandal.

June 19, 2013

Hypo Group: Business With Russian Oligarch

Austrian magazine „News“ unveils a remarkable business connection of Hypo Group from 2008.

June 19, 2013

Austria: Deputy Govenor of OeNB Suspended

Deputy Govenor of Austrian National Bank Duchatczek is suspected of bribery.

June 19, 2013

Lopatka: "EU Enlargement is a Driver for Reforms and Rule Of Law"

State Secretary Lopatka on DARUM EUROPA information tour.

June 18, 2013

Poland: Deputy Transport Minister Dismissed

Former Deputy Transport Minister alleged of corruption. Austrian construction company Alpine involved.

June 18, 2013

Czech Republic: Necas Steps Back

Czech Prime Minister Petr Necas draws the conclusion from his corruption scandal and announced to step back.

June 17, 2013

Turkey: Protests About to Escalate

Further unrests after forceful clearing of Gezi Park.

June 17, 2013

Czech Republic In Turmoil Over Corruption Scandal

The Czech Republic’s political landscape is in turmoil due to the scandal. The investigations have begun on Thurday with country-wide raids. More and more bizarre details seem to appear.

June 14, 2013

Turkey: Erdogan Gives In

In the dispute about Gezi Park in Istanbul, which has led to weeks of protests and even violence, the Turkish government leadership now wants to give in.

June 14, 2013

Dispute About Tender for Orient Express

The Orient Express once led through Romania. These days, this section is cause for legal disputes in connection with the tender in the amount of € 330m.

June 13, 2013

Turkey: Erdogan Considers Referendum

After international criticism was voiced for the use of tear gas by the Turkish police against tens of thousands of demonstrators, Prime Minister Recep Tayyip Erdogan raised the issue of a referendum.

June 13, 2013

Turkey: Taksim Square Forcefully Cleared

Protests expected to continue despite of severe measures.

June 12, 2013

Serracchiani: „Will Do Everything I Can“

In an interview with Austrian newspaper “Kleine Zeitung“ Debora Serracchiani, new regional president of the province Friuli in Italy announced to do everything so that Hypo Group Italy will survive.

June 11, 2013

Hungary: Fifth Amendment of Controversial Constitution Planned

The controversial Hungarian constitution is supposed to be changed for the fifth time since the EU Commission threatened the country with infringement proceedings.

June 10, 2013

Oresharski: Things Were Never So Bad in Bulgaria

One week after assuming office, Bulgaria’s new Prime Minister Plamen Oresharski announced that the social and economic situation in the country has reached an all-time low.

June 5, 2013

Austrian Justice Minister to Support Serbia’s Approach to EU

Austria to enhance transfer of know-how in regard to the fight against corruption.

June 5, 2013

Slovenia: Ex PM Convicted in Patria Case

Former Slovenian Prime Minister Janez Jansa was convicted of bribery on Wednesday in Ljubljana.

June 5, 2013

Latvia: Euro to Be Introduced 2014

Latvia will be able introduce the Euro on January 1 2014. According to diplomats, this is what the EU Commission will recommend on Wednesday in Brussels.

June 4, 2013

Austria: Fekter Signed OECD’s Multilateral Assistence Agreement in Tax Matters

Fekter described the signing as a “further important step in the fight against tax evasion and tax fraud”.

May 29, 2013

Bulgaria: Parliament to Vote On Government

This morning, the Bulgarian parliament has started a session for the voting on the new government.

May 29, 2013

Austrian Top Banker to Appear in „Offshore-Leaks“

For the first time, a European top banker appears in the “Offshore-Leaks” database. CEO of Raiffeisen Bank International (RBI) Herbert Stepic is coming under massive pressure.

May 23, 2013

Bulgaria to Table Bill of Amendments in Energy Sector

New regulations will be drafted when caretaker government leaves office.

May 23, 2013

“Ukraine's European Choice Is Irrevocable”

The strong pro-European civil movement in Ukraine made the country’s European choice irrevocable, declared the head of the EU Delegation to Ukraine Jan Tombinski

May 21, 2013

Croatia‘s and Hungary‘s Fight About Oil Company Ina

The dispute between core shareholders of Croatian oil producer Ina has started anew.

May 17, 2013

Bulgaria’s Election Winner To Annul Results

GERB party, winner of the early presidential elections in Bulgaria, announced to file a lawsuit before the Constitutional Court.

May 16, 2013

Alpine: Dispute in Poland About to Escalate

A dispute about the construction of a bridge has intensified. The construction company Alpine has withdrawn from the contract for the building of a highway segment in Poland.

May 15, 2013

Austria: EU Competition Authority to Search Agrana

The European competition authority has paid a visit to listed starch and sugar producer Agrana in April.

May 15, 2013

US: Kerry Announced Support of Ukraine’s EU Integration

US Secretary of State John Kerry announced his support for Ukraine’s move towards an EU membership.

May 13, 2013

Pressure from EU on Orban Increases

EU demands that Hungary withdraws the changes to the constitution.

May 8, 2013

RHI: US Proceedings Completed

Chapter 11 proceedings of the US companies deconsolidated in 2001 completed

May 2, 2013

EU Ready to Adopt Measures Over CEZ in Bulgaria

Van Rompuy promised to take actions during his visit in Prague.

April 29, 2013

Voestalpine: Compensations for Deutsche Bahn

Deutsche Bahn (DB) is to receive compensations by Austrian steel manufacturer voestalpine.

April 29, 2013

EU Commission to Start Proceedings Against Hungary

On Wednesday, Justice Commissioner Viviane Reding told reporters in Brussels that the EU Commission will probably launch infringement proceedings against Hungary.

April 26, 2013

Alpine and Porr to Be Compensated by Serbia

The Austrian construction companies Alpine and Porr claim € 71m from Serbia before the court of arbitration due to a flopped major project for the building of a highway.

April 26, 2013

Albania: Under EU’s Watch

Brussels called for further modernizations of the judiciary in Albania before the EU considers Accession talks with the country. Futhermore the union announced to keep a close eye on the elections in June.

April 24, 2013

Serbia: Agreements in Kosovo Negotiations

Commissioner Ashton announced that both countries have found an arrangement.

April 19, 2013

Cyprus: Increase of Taxes Resolved

The Cyprian parliament has voted for an increase of taxes. Among other things, business taxes will increase from 10 % to 12.5 %.

April 19, 2013

Heated Debate in EP About Hungary

On Wednesday, the European Parliament has lead a heated debate concerning the controversial amendments to the Hungarian constitution.

April 18, 2013

Austria and Turkey to Deepen Relations

Justice Minister Karl wants to improve cooperations with Turkey.

April 17, 2013

„Unlawful“ Farming in Hungary

The estimated 200 Austrians, who are engaged in agriculture in Hungary, are apparently not highly esteemed by Hungarian Prime Minister Viktor Orban.

April 16, 2013

Hungary: Increasing Tensions Between Barroso and Orban

President of the EU Commission, Jose Manuel Barroso wrote another letter to Prime Minister Orban warning him of the impacts in case the government will not realize the claimed measures.

April 15, 2013

Austria: Three Convictions at Immofinanz Process

Former head of Immofinanz, Petrikovics, was sentenced to six years in prison. Co-defendants Schwager and Thornton were sentenced as well.

April 12, 2013

EU Threatens Hungary With Process

The EU Commission has warned Hunary with a lawsuit in case the government in Budapest should not withdraw the controversial amendmends to the consititution.

April 12, 2013

EU Examines Bulgarian Electricy Market

On request of the Bulgarian Government, an expert group will examine the prices for electricity after the protests. Another issue is the independence of the energy regulator.

April 12, 2013

Ukraine: Yanukovych Rejects Pardoning Tymoshenko

President Yanokovych does not consider a pardoning as long as trials continue.

April 11, 2013

Hungary: Commissioner Reding’s Reactions to Allegations

EU Justice Commissioner and Deputy President of the EU Commission Viviane Reding has reacted to the accusations of the Hungarian government.

April 10, 2013

Decisions About Hypo Group’s Future Still Pending

Finance Minister Maria Fekter has presented herself rather reserved after the meeting with EU Commissioner for Competition Joaquin Almunia.

April 5, 2013

Austrian SMEs Keep on Struggling in 2013

Persistant insecurity and subdued growth expectations characterize the 1st quarter of 2013. Enterprises regard new energy efficiency policy as additional bureaucratic burden.

April 4, 2013