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Austrian Clearingbank Concludes Activities
The activities of the Oesterreichische Clearingbank, founded in 2008 to handle liquidity shortages at commercial banks end presently.
March 5, 2011
Bank Assistance is Lucrative for the State
Contrary to fears, revenues of the bank rescue package more than double the refinancing costs.
January 26, 2011
Government Support for the Hypo Group
The Hypo Group is still far away the end of restructuring. Losses between € 700m and € 900m are expected for this year. The state gives a guarantee for 500m.
December 13, 2010
Kovats Remains CEO of A-Tec for the Time Being
Despite the resignation offer to the creditors Mirko Kovats, majority owner and founder of bankrupt A-Tec, stays on as CEO.
December 6, 2010
A-Tec: Financing Only Secured Until January
The plan of the creditors' committee was rejected. The Banks are consulting with each other for the financing of the ailing A-Tec group, after which the creditors’ committee will present a new proposal to the credit institutions.
November 2, 2010
Hypo Group: Serious Allegations Against Kulterer
The former airline “Styrian Spirit" is said to have been financed without collateral, according to expert opinion. Kulterer defends himself and points to guarantee commitments by Jörg Haider.
October 29, 2010
Kovats in Distress: Rescue Package Must Stand Firm by Monday
The coming days are of utmost relevance for Mirko Kovats’s insolvent A-Tec Group. The rescue package must be ready by Monday.
October 29, 2010
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