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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

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

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’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

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

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

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 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: 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: 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

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

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

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

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

Alpine Denies Bankruptcy Rumors

The Austrian construction company is to sell its affiliates. However, the expected sale earnings are disproportionate, according to experts. Spanish parent company FCC is said of not being able to raise any further aid money.

May 17, 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

FCC in the Reds Again

High Losses in first quarter for Alpine’s parent company FCC.

May 7, 2013

CEO of Alpine: „Hubris Led to Losses“

Schiefer, new CEO of Alpine, explained in an interview why Alpine made losses in 2012.

April 25, 2013

Austria: Alpine’s Future Sealed

The restructuring contract has been signed by banks and insurance companies. Shareholders are not affected by a haircut.

March 26, 2013

FCC to Cut Down On Manpower

Alpine’s parent company, Spanish construction enterprise FCC is going to cut back on 1,000 jobs. Furthermore, company shares that are not part of the core business in the amount of € 2.2bn are supposed to be sold.

March 20, 2013

Austria: New CEO for Alpine

The construction company was saved from bankrupcy and is now looking for a new CEO

March 5, 2013

Austrian Construction Group Alpine Rescued

For the time being, Alpine´s bankruptcy could be prevented. The creditors agreed on a partial waiver.

March 4, 2013

Alpine: Austrian Ministry of Finance Rejects Waiver

Although the banks reached an agreement, the restructuring of the Austrian construction group may collapse.

March 1, 2013

Alpine: Future Still Highly Uncertain

Today, Alpine´s creditors decide whether the financially stricken construction company will be restructured.

February 28, 2013

Austria: Final Talks about the Future of Alpine

Everything revolves around the debt cut and the Future of Construction Company.

February 25, 2013

Alpine: Creditors Face Haircut

The financially stricken Austrian construction company wants its creditors to contribute to the restructuring.

February 2, 2013

Alpine: Funding is Secured

The financially stricken construction company has reached an agreement with its creditors.

November 10, 2012

FCC Considers Downsizing Alpine

The financially stricken Austrian construction company may sell several business units. A sale of Alpine seems unlikely.

October 20, 2012

Alpine: CEO Dotter Resigns

The management of the financially stricken Austrian construction group reshuffles. The holding company FCC decided to change the management.

October 17, 2012 · Updated: October 17, 2012; 19:15

Alpine Confirms „Substantial Losses“

The Austrian construction company is in severe difficulties. The management demonstrates optimism.

October 15, 2012

Alpine Needs Help from Banks

The Austrian construction company faces liquidity constraints. Talks with banks were started already.

October 11, 2012

New Supervisory Board at Alpine

Baldomero Falcones assumes the function of Chairman of the Supervisory Board at the Austrian construction company Alpine.

July 13, 2012

Alpine Strengthens Domestic Market Austria

The second-biggest Austrian construction group changes ist management for the biggest market. The new corporate strategy should be implemented now.

July 6, 2012

Alpine to Rebuild Railway in Macedonia

The € 7m contract to be fully financed by the European Bank for Reconstruction and Development.

April 11, 2012

FCC to Appoint Benita Ferrero-Waldner as Alpine´s Chairwoman

Austria´s former Minister of Foreign Affairs heads the supervisory board of Alpine. The appointment will take place at the next Supervisory Board meeting of Alpine, FCC's Central and Eastern European subsidiary.

March 29, 2012
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