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Austrian Economic Legal Issues and Insolvencies
Read the latest headlines about laws, jurisdictions and court decisions in Vienna and Austria with reference to the international interest
Austria: Alpine Creditors Register € 2.29bn
The downfall of construction company Alpine, the biggest bankruptcy in the history of the second Republic, has not been finished yet.
August 19, 2013
Hungary: Land Reform Evokes Conflict
“Hungarian soil belongs to Hungarian people“. This is the maxim of national-conservative ruling party of Prime Minister Viktor Orban.
August 8, 2013
Serbia: Attempted Murder on Deputy PM Vucic Prevented
According to Belgrade daily “Nase novine“, Serbian Intelligence Service BIA was able to prevent an attempted murder on Deputy Prime Minister Aleksandar Vucic.
August 7, 2013
CESEE Remains Attractive for Austrian Investors
According to a survey, the region of CESEE is still attractive to Austrian investors. Particulary the bigger countries – Poland, Turkey and Russia – are becoming even more popular.
August 1, 2013
Slovenia Likely to Overcome Problems in Banking Sector
Slovenia’s problems in banking sector are controllable, according to experts.
July 31, 2013
EVN Forced to Lower Electriciy Prices in Bulgaria
Austrian energy provider EVN is ordered by the regulator to drop electricity prices.
July 30, 2013
Two Interested Parties for Hypo Alpe Adria Italia
Two investors have shown their interest for the take-over of Italian affiliate of nationalized Hypo Alpe Adria. Banca Popolare di Vicenza and a British-Indian Group are claimed of being interested.
July 29, 2013
Bulgarian Deputy PM: “They Want Social Justice“
In an interview with Austrian newspaper Standard, Bulgarian Justice Minister and Deputy Prime Minister Zinaida Zlatanova (40) talks about the reasons for the protest movement, planned reforms and critizism from abroad.
July 27, 2013
Alpine: Financial Difficulties Existed Longer Than Assumed So Far
The crisis of insolvent construction company Alpine goes back much farther than assumed so far. The company had problems in 2009 already to settle invoices.
July 27, 2013
Hypo Group: Massive Losses in Italy
The Italian affiliate of Austrian problem bank Hypo Alpe Adria has notched up considerable losses.
July 25, 2013
Poland: Opposition Calls for Parliamentary Inquiry
PiS chief opposition calls for parliamentary inquiry into public finances.
July 24, 2013
Voestalpine: Cartel Proceedings Finally Settled
voestalpine AG response to the German Cartel Office's rail cartel announcement issued yesterday.
July 24, 2013
Alpine Inable to Pay in Mid-2012 Already
Former CFO supposed to have asked Spanish parent company FCC for liquidity assistance in the amount of € 115m, otherwise “we are dead”.
July 24, 2013
Dispute about Ina in Hungary and Croatia Escalates
The Croatian prosecution is once more investigating due to bribe payment to former Prime Minister Sanader. Head of Mol, Hernadi, is faced with a possible detention order.
July 11, 2013
Turkey: Gezi Protests Claim Fifth Life
A 19-year-old, who was seriously injured during the protets against the government in Turkey, has died in hospital. The number of fatalities has now risen to five, according to press agency Dogan.
July 10, 2013
Alpine Bankruptcy Hits Clients Hard
According to real estate experts problems for home builders have just started.
July 10, 2013
Turkey: Government Alleged to Have Known About Project Fail
A week before the forceful clearing of Gezi Park in Istanbul, the Turkish government was supposed to know about the fact that it had lost before court with its constructions plans. Protests went on, despite of that.
July 5, 2013
Turkey: Court Forbids Reconstruction of Taksim Square
Controversial construction project led to protests and brutal police force.
July 3, 2013
Alpine Holding: Insolvency Proceedings Now Official
The insolvency proceedings for Alpine Holding have now officially started at the Commercial Court in Vienna. Liabilities come at € 700m.
July 2, 2013
Hypo Group and BayernLB Keep on Fighting
Hypo Group responds to the BayernLB’s lawfile at the Regional Court in Munich. Both banks will not give up their very hard stance.
June 26, 2013
Austria: Deputy Govenor Duchatczek Steps Back
After 37 years of service Duchatczek resigns from his position as Deputy Govenor of the Austrian National Bank (OeNB).
June 25, 2013
Raids at Hypo Group in Italy
Because of suspicions of tax fraud Hypo Group’s affiliate in Udine was searched by the Italian police.
June 25, 2013
EVN Arbitration Proceedings Against Bulgaria to Start
EVN AG commences investment treaty arbitration against the Republic of Bulgaria.
June 21, 2013
Austria: Investigations on Loan to Alpine
Apparently ailing bank Hypo Group plays a role in the bankruptcy of Austrian construction company Alpine. The bank is supposed to have granted a bridge loan.
June 21, 2013
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
Spindelegger: “The Danube and Black Sea Regions Will Bring a Vital Impetus for the Future of Europe in Its Entirety”
“Gateway to Europe” Conference in Krems, Austria
May 16, 2013
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