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Alpine

BayernLB: “Odd“ Sponsoring Contracts in Carinthia

Former managers of the German regional bank are under suspicion of having bribed then-governor of the Austrian province of Carinthia.

March 31, 2014

Austria: Dispute about Hypo Credit to Alpine

The granting of a loan to Alpine Bau, which went bankrupt soon afterwards, in the amount of € 25m by Austrian problem bank Hypo Group Alpe Adria has become an issue of the Austrian prosecution.

March 31, 2014

Austrian State Sues Six Banks

The Republic of Austria filed lawsuits against six lending banks of bankrupt construction enterprise Alpine.

January 17, 2014

Erste Group and Bank Austria Face Lawsuits

Two Austrian lending banks are involved both as plaintiffs and as defendants in bankrupt construction company Alpine’s court trials.

January 2, 2014

Without CESEE Business Alpine Would Still Exist

According to reports by auditor BDO and liquidator Stephan Riel, business in Austria remained profitable for insolvent construction company. If Alpine had never expanded business to CESEE it would still exist.

October 25, 2013

House Searches at Strabag Subsidiary in Croatia

The corruption scandal at the Croatian Chamber of Economy affects public road authority HAC and construction companies that were commissioned, among them Austrian Strabag and Alpine.

October 22, 2013

Bill Gates Becomes Second-Largest Shareholder in FCC

Spanish construction company and parent company of Austrian Alpine has a new shareholder: Founder of Microsoft Bill Gates has aquired a participation of around six percent.

October 22, 2013

Austria: Alpine Bankruptcy Caused Further Enterprises to Go Bust

Alpine’s bankruptcy has caused thirteen enterprises to slip into insolvency so far. Half of the companies are currently fighting for continuation, according to credit protection agency KSV 1870.

October 16, 2013

Austria: Alpine Holds € 52m in Assets

Creditors of Alpine have very little chances of being compensated after the construction company declared bankruptcy. Currently Alpine holds € 52m in assets.

October 9, 2013

Austria: Alpine’s Bankruptcy Claims Amount to € 4.15bn

In regard to construction company Alpine’s insolvency, creditors have so far registered claims in the amount of € 4.15bn, as announced by liquidator Stephan Riel in the run-up to Wednesday’s examination hearing.

October 8, 2013

Porr: Capital Increase and Rise in Profits Expected

CEO of listed Austrian construction company Porr Karl-Heinz Strauss is still in favor of a capital increase in 2014 or 2015 and calls upon the government to create “projects for the future”.

October 7, 2013

Alpine: Almost All Former Employees Have New Jobs

Because of the construction company’s bankruptcy, almost 5,000 employees lost their jobs. Currently 133 persons are still looking for a job.

September 24, 2013

Alpine: Creditors in Austria and Poland Claim Refunds

Not only the labor market in Austria is burdened but also thousands of creditors have invested in bonds of the construction company and are now facing enormous losses.

September 4, 2013

Polish Alpine Files for Bankruptcy in Vienna

More affiliates of Alpine are affected.

September 3, 2013

German Affiliate of Alpine Sold

By the selling of the German affiliate of construction company Alpine 520 out of 1,250 employees will lose their jobs.

September 2, 2013

Alpine: Nine out of Ten Former Employees Have a Job

90 percent of former Alpine employees have a new job. However, 404 persons are still looking for a new employment.

August 30, 2013

Massive Losses for Alpine: € 5bn in Debts

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.

August 29, 2013

Alpine: Former Employees to Receive Wages

Almost 5,000 former employees of bankrupt construction company Alpine can feel relieved as this week the insolvency contingency fund will start with settlements. However, creditors will only be given a rate of five percent.

August 27, 2013

Austria: Debts of Alpine Increase to € 3.7bn

Gerhard Weinhofer of creditor protection association Creditforum counts with a “micro quota” for creditors of bankrupt construction company.

August 23, 2013

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

Austria: Alpine-Energie to be Taken Over by Triton

Former affiliate of construction company Alpine Bau Alpine-Energie, which is based in Linz and was temporarily “parked” with a special company, has a new owner.

August 13, 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

Austria: 82 Percent of Alpine Employees With New Jobs

After the construction company’s bankruptcy, 82 percent of Alpine employees have found a new job again. Around 100 persons are still working on the winding up of the company.

July 25, 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

Alpine Bankruptcy Hits Clients Hard

According to real estate experts problems for home builders have just started.

July 10, 2013

Alpine Holding to be Shut Down

The closing down of Alpine Holding is only a “formality”. According to Österreichischer Verband Creditreform (ÖVC), a credit protection association, “a restructuring of the debtor is not planned and not possible”.

July 9, 2013

Alpine: Enormous Credit Default Rate

The rate for Alpine creditors declines day by day while the rate of the Trade Unions is immense. Almost all employees of Alpine were looking for help and advice.

July 8, 2013

Alpine: Serbia to Withdraw from Contract

Serbia intends to withdraw from the building contracts for the construction of a highway with bankrupt Alpine within the next 15 days.

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

Alpine: 2,600 Jobs Secured

Social Minister Rudolf Hundstorfer assumes that a lot of Alpine employees will continue to be employed. Former CEO Schiefer announced that Alpine was “clinically dead” when he took over management in April 2013.

July 1, 2013

Austria: So Far Three Construction Companies Involved in Take-Over of Alpine

1,800 employees of bankrupt Alpine can feel relieved. In all probability three Austrian construction companies (Habau, Swietelsky and Hinteregger) will be involved in the regional rescue solution.

June 28, 2013

Alpine to Be Divided Up

Swietelsky plans to take over 1,500 employees. Strabag announced interest but remains unheard.

June 27, 2013

Alpine: Work to be Resumed At Construction Sites

Time pressure grows. Work at the closed down construction sites of bankrupt Alpine it to be resumed soon.

June 26, 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

Austria: Government Agrees on Stimulus Package

Startled by construction company Alpine’s insolvency, the Austrian government has agreed on the fiercly discussed stimulus package. An amount of € 800m is required additionally.

June 25, 2013

Alpine: Biggest Bankruptcy in Austrian History

Bankrupt-gone construction company Alpine operates at 1,400 construction sites and is supposed to complete orders in the amount of € 800m. The shutting down of the enterprise has been decided.

June 25, 2013

Alpine to Be Shut Down

Bankrupt-gone construction company Alpine is facing a breaking down. After negotiations about establishing a rescue company failed, the enterprise will apply for a shutdown.

June 24, 2013

Alpine-Insolvency: 80 Companies Affected

After an analysis by credit protection association Kreditschutzverband 1870 (KSV1870), the majority of around 1,400 suppliers and subcontractors is not affected by the construction company’s bankruptcy.

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

Alpine: Thousands of Jobs At Risk

Alpine’s Insolvency could cost thousands of people’s jobs. According to Social Minister Rudolf Hundstorfer, the Social Ministry would utilize all means to prevent a worst-case scenario. Alpine's affiliate in Germany is filing for bankruptcy as well.

June 20, 2013

Polish Road Authority As Tardy Payer

Prime Minister Tusk seems unimpressed about ambassadors from six countries filing a complaint.

June 19, 2013

Alpine Facing Bankruptcy

The restructuring of Austria’s second biggest construction company Alpine has failed. The enterprise therefore has to face bankruptcy.

June 19, 2013

Poland: Deputy Transport Minister Dismissed

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

June 18, 2013

Alpine: Bondholders to Lose Assets

On Monday evening the decision was made for the financial reorganization of the Austrian construction company.

June 18, 2013

Alpine Can Take A Breather

Alpine’s liabilities amount to € 450m. Spanish parent company FCC is supposed to provide a capital injection of € 150m.

June 13, 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

Alpine’s Fate Hanging By A Thread

The fate of Austrian construction company Alpine is hanging by a thread. If negotiations fail Alpine has to face its ruin.

June 13, 2013

Austria: Alpine to Require More Funding

Selling of affiliates will be postponed.

June 7, 2013

Czech Republic: Dumping Offers for Building of Highway

Major construction companies screw down prices for the building of a highway segment from Linz to Prague.

June 3, 2013

FCC Wants Guggenheim Partners As Financial Ally

With debts having amounted to more than € 8bn, Spanish parent company of Alpine is now looking for potential financial partners.

May 24, 2013