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Hypo Group Alpe Adria

Austria: Hypo Group’s Investigation Committee Ready for Action

The group of foreign experts at the investigation commission for Hypo Group Alpe Adria is supposed to guarantee the required objectivity. The first results are expected to be published at the end of the year.

April 10, 2014

Austria: Hypo Group Capitalized Again

The Austrian state has filled the capital hole of the ailing bank again.

April 9, 2014

Hypo Group: Former CEO Sentenced to Prison

Former CEO of Hypo and investor Tilo Berlin was sentenced to more than two years in prison.

April 9, 2014

Austria: Government Wants “Restrictive Budget Performance”

Today the Austrian government has decided upon a “restrictive budget performance.

April 8, 2014

Hypo Group too Expensive for BayernLB

According to an official expert, regional German lender BayernLB’s fatal decision to take over Hypo Group Alpe Adria was based on questionable company evaluations.

April 7, 2014

Hypo Group: Heavy Burden for Austrian Fiscal Position

The Austrian National Bank, however, expects the structural medium-term budgetary objectives to be achievable.

April 7, 2014

ECB Puts Pressure on Hypo Group

The distressed Austrian nationalized lender has no access to the Eurosystem monetary policy credit instruments. About ten potential buyers might be interested in the Balkan lender.

April 5, 2014

Hypo Group: „We Are not the Only One Who Must Pay“

Austrian Minister of Finance Michael Spindelegger underlines that the Austrian taxpayers are not the only ones who must bear the losses of the nationalized lender Hypo Group Alpe Adria.

April 5, 2014

Austria: Carinthia Reluctant to Pay for Hypo Group

The Austrian province of Carinthia rejects contributing to the downsizing costs of nationalized Hypo Group. Finance Minister Spindelegger insists on € 500m and threatens with sanctions.

April 4, 2014

Bosnian Billionaire to Acquire Hypo Group?

The Finance Ministry confirmed the announcement and is now examining the offer.

April 4, 2014

Austria: Capital Increase for Hypo Group Decided

The Austrian problem bank Hypo Group Alpe Adria will receive € 750m in fresh capital.

April 4, 2014

Hungary: OTP Approaches Acquisition of MKB

MKB, the Hungarian loss-making affiliate of German regional lender BayernLB, is approaching its acquisition by the biggest lender OTP.

April 3, 2014

Austria: Dispute about Bank Tax Culminates

The establishing of a new fund for the banking union will become a financial burden for banking institutes.

April 3, 2014

Austria: Chancellor Calls for Reform of Investigation Committee

Chancellor Werner Faymann has today expressed his wish for a fast reform of parliamentary investigation committees.

April 1, 2014

Austria: Spindelegger Expects Significant Increase of Deficit

According to the Finance Minister, the consequences of the Hypo-disaster are “dramatic”. However, he does not see a danger of deflation.

April 1, 2014

Hypo Group: Settlement Rejected by BayernLB

The majority stockholder of BayernLB, the former parent company of Hypo Group Alpe Adria, is not willing to negotiate about a settlement with the Austrian problem bank.

April 1, 2014

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

Hypo Group: “The People are Really Pissed Off“

According to Werner Kogler, financial spokesman and deputy party leader of the Austrian Greens, the Hypo commission appointed by the government is an “intolerable escape attempt”.

March 28, 2014

Hypo Petition Puts Pressure on Austrian Government

The support of the online petition for the establishing of an investigation committee has gained more than 105,000 supporters which puts increasing pressure on the government.

March 28, 2014

Austria: Moody’s Confirms Rating and Outlook for Carinthia

US rating agency rewards the government’s solution about Hypo Group with a confirmation of the creditworthiness of the province of Carinthia.

March 28, 2014

Austria: Economic Growth Slowly Getting in Gear

Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.

March 27, 2014

Austria: Hypo Commission Soon Ready to Investigate

The government’s commission for the investigation of Hypo Group’s nationalization is supposed to begin its assignment in one or two weeks.

March 27, 2014

BayernLB Threatens Hypo Group with Damage Claims

BayernLB, former parent company of Hypo Group Alpe Adria International, is threatening to claim damages from its former affiliate.

March 26, 2014

Austria: High Support for Hypo Group’s Investigation Petition

According to a decision in the petition committee, the online petition for the investigation of the nationlization of ailing Hypo Group Alpe Adria will be open for signing until the next committee meeting in June.

March 26, 2014

Spindelegger: Investigation Committee “Counterproductive“

According to the Finance Minister, an investigation committee would only worsen the negotiation position with BayernLB.

March 25, 2014

Hypo Group: Spindelegger Still Rejects Investigation Committee

Today the opposition will call for a joint request for a parliamentary investigation committee with regard to ailing bank Hypo Group.

March 25, 2014

Austria: Hypo Petition to be Continued

The online petition for the establishing of a parliamentary investigation committee will not be stopped by the Austrian government, consisting of SPÖ (Social Democrats) and ÖVP (Austrian People’s Party).

March 24, 2014

Hypo Group: New Supervisory Board President

Herbert Walter becomes head of the nationalized Austrian Balkan lender Hypo Group Alpe Adria. According to Austrian Finance Minister Michael Spindelegger, Hypo Group needs even more capital injections.

March 24, 2014

Austria: Petition Around Hypo Group to be Stopped

The stop of the online petition for a parliamentary investigation committee seems to be unavoidable. The opposition claims the government is trying to “choke off” democracy.

March 21, 2014

Hypo Group: € 1.43bn Required This Year.

A total capital need of € 1.43bn is forecast by the ailing bank.

March 21, 2014

Hypo Group: More than One Billion Required?

As reported by Austrian radio station Ö1, part of the Austrian Broadcasting Corporation ORF, ailing Hypo Group Alpe Adria will require € 1.1bn this year from the state.

March 21, 2014

Hypo Group: “Acutely Gaping Capital Hole“

In a compulsory notification published on Friday morning, Hypo Group Alpe Adria has reported about an “acutely gaping capital hole” which has to be covered by the Austrian Federation.

March 21, 2014

Austria: Still No Disclosure about Hypo’s Capital Gap

Detailed figures about how much the Austrian state will have to inject for the balance sheet total of 2013 will be published on Friday at the earliest.

March 21, 2014

Austria: Opposition Criticizes Nationalization

On Thursday Finance Minister Michael Spindelegger expects a binding statement by ailing bank Hypo Group Alpe Adria about how much state aid will be required. The opposition heavily criticizes the nationalization by the Austrian state in 2009.

March 20, 2014

Austria: Reform Steps Very Modest

Austria, along with Germany and Switzerland, hardly put any economic reforms into realization. This is the conclusion of the annual “reform barometer” for the three countries.

March 20, 2014

Hypo Group Expected to Publish Figures This Week

On Thursday the Austrian taxpayers are supposed to officially get to know the financial requirements for nationalized problem bank Hypo Group Alpe Adria.

March 19, 2014

Austria: Freedom Party Admits Complicity

The Austrian Freedom Party (FPÖ) admits that it was also to blame for the disaster around Hypo Group Alpe Adria.

March 19, 2014

BayernLB: “We Were Brazenly Betrayed by Austria"

CEO of BayernLB Gerd Häusler claims the German bank and former parent company of nationalized Hypo Group Alpe Adria accuses Austria of having taken the law into its own hands.

March 18, 2014

Hypo Group: Government Explains Downsizing Solution

On Tuesday the Austrian government will explain the decided downsizing solution for the ailing bank Hypo Group Alpe Adria. Carinthia only wants to pay € 300m in downsizing costs.

March 18, 2014

Hypo Group Redeems Loan

Even though the Austrian nationalized Hypo Group urgently needs state aids to get by bondholders will be compensated for their investments.

March 17, 2014

Austria: Carinthia Forced to Pay for Hypo Group

Finance Minister Michael Spindelegger announced wanting to include the federal province of Carinthia to participate in the downsizing costs for ailing bank Hypo Group Alpe Adria. Austerity measures are “inevitable”.

March 17, 2014

Austria: Spindelegger Puts Pressure on BayernLB

In the dispute with BayernLB, former parent company of problem bank Hypo Group Alpe Adria, Finance Minister Michael Spindelegger calls for a tougher approach.

March 17, 2014

Austria: Spindelegger Demands Valid Figures by Hypo Group

Finance Minister Michael Spindelegger demands valid figures from Hypo Group Alpe Adria before any further capital injections will be made by the Austrian state.

March 15, 2014

Austria: Delay in RBI Paying Back State Capital

Austrian Raiffeisen Bank International (RBI) will take longer than planned to pay back state capital.

March 15, 2014

Hypo Group: Decision Has Finally Been Made

The government has finally made a decision. Ailing Hypo Group Alpe Adria will be downsized through a private bad bank.

March 14, 2014

Austria/SEE: Crucial Days for Hypo Group’s Future

Today the supervisory board of ailing Hypo Group is gathering to determine the financial gap of Hypo Group and the amount required to complete the balance sheets for 2013. Moreover, a decision about the SEE network will have to be made.

March 14, 2014

Austria: Bawag to Pay Back State Capital

Bawag is expected to pay back the entire public participation captial tomorrow. The assets are urgently required for recapitalizing Austrian problem bank Hypo Group.

March 13, 2014

Austria: Who Will Pay for Hypo Group?

In the dispute around who is to pay for problem bank Hypo Group Alpe Adria Chancellor Werner Faymann intends to negotiate with the Austrian provinces about a contribution to the bank levy.

March 13, 2014

Hypo Group: Insolvency Still an Option?

The group of international advisors appointed by the Austrian government seems to have come to a different conclusion than the task force of Hypo Group Alpe Adria.

March 12, 2014