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Serbia: Financial Underhand Practices Discovered
Financial underhand practices had lead to losses of € 700m for the Serbian state.
March 30, 2013
Cyprus: 37.5 % Tax on Assets
The compulsory levy on bank assets exeeding € 100,000 has now been fixed. Assets above the amount will be taxed with 37.5 %.
March 30, 2013
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EVN to Get Support by State Secretary
State Secretary Lopatka intervened in EVN’s dispute with Bulgarian government. He urges Bulgaria to ensure protection of investments.
March 29, 2013
Cyprus: Trying to Avoid Chaos at Banks
Today, Cyprus‘ banks are supposed to be opened after almost two weeks of closing. The citizens are called for calm and there are limits for drawing money. The currency rate was downgraded to Caa2 by Moody’s.
March 28, 2013
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Commission Praises Croatia’s Progress
Croatia has fullfilled all criteria for the EU accession on July 1, 2013.
March 26, 2013
Dacic to Meet Head of EULEX Mission
International mission in Kosovo to ensure complete protection of all citizens.
March 26, 2013
Belgrade Considers Conditions Unacceptable
The sudden failure to reach a final conclusion to the Kosovo-issue puts a dampener on Serbia’s way towards the EU.
March 21, 2013
Time Is Running Out Fast for Serbia and Kosovo
It is probably one of the last chances for Serbia and Kosovo to make progresses for EU rapproachment.
March 20, 2013
Austria: Meinl‘s Bail Money to Be Reduced Significantly
According to the Higher Regional Court (OLG) in Vienna, Julius Meinl is to receive € 90m of his bail money back.
March 19, 2013
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EVN to Start Arbitration Procedure
Today, Austrian power supply company EVN informed the state of Bulgaria about opening arbitration proceedings.
March 19, 2013
Austria: Investigation Against VBAG Board Members
The Austrian Justice is currently investigating a case of the Austrian Volksbanken AG (VBAG) where three former board members are accused of having forged balance sheets. Board director CEO Michael Mendel is not among the suspects.
March 18, 2013
Spindelegger Criticizes Orban Sharply
Austria´s Vice Chancellor and Foreign Minister Michael Spindelegger wants Hungary to “return to the European legal basis”.
March 16, 2013
Hungary: Orban Rejects Criticisms
After making amendments to the Hungarian constitution, Prime Minister Viktor Orban and his leading Fidezs party have to face harsh criticisms. EU Justice Commissoner Viviane Reding announced to take measures.
March 15, 2013
Mignon (PACE) Praises Serbia For Progresses
Today, president of the Parliamentary Assembly of the Council of Europe (PACE) Jean-Claude Mignon gave credit to Serbia’s progress in the execution of reforms and expressed faith in finding solution for the Kosvo issue.
March 12, 2013
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Hungary: Constitutional Amendmends Signed By Vast Majority
EU Commission fears that Hungary’s state institutions will have to experience major restrictions.
March 12, 2013
Montenegro: Knocking on Brussels’ Door
In an interview with the Austrian newspaper Presse, state secretary for European integratition and Montenegro’s chief negotiator Aleksandar Pejovic informs when his country is ready to join the EU.
March 9, 2013
Austria: Elsner Files Lawsuit in US Supreme Court
Former BAWAG CEO Helmut Elsner filed a lawsuit over $ 1.8bn against members of the Austrian Social Democrat party (SPÖ).
March 7, 2013
Hungary: No Mandatory Voter Registration
The Hungarian Constitutional Court rejected the law proposed by the government.
January 5, 2013
Austrian Government Agrees on Bank Restructuring Law
“The agreements at government conference are intended to strengthen financial sector.” Finance Minister Maria Fekter says.
November 9, 2012
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FPÖ Files Suit Against ESM
The biggest Austrian opposition party files a legal complaint against the European Stability Mechanism (ESM) at the Austrian Constitutional Court.
October 15, 2012
Constitutional Court: ESM Examination Takes up to 6 Months
According to the biggest Austrian opposition party FPÖ, the European Stability Mechanism violates the Austrian constitution.
July 25, 2012
Austrian Opposition Parties Fight Against Fiscal Pact
The three Austrian opposition parties FPÖ, The Greens and BZÖ announced to bring a complaint of unconstitutionality against the Fiscal Pact.
July 13, 2012
Alpbach Legal Symposium 2012
Under the motto “Acceptance of Law in Rapid Decline?”, the Alpbach Legal Symposium 2012 will be held from Monday, August 27, 3:00 pm to Tuesday, August 28, 12:45 pm in the Congress Centrum Alpbach.
July 7, 2012
Austria Appreciates Opening of Accession Negotiations
After the beginning of the accession negotiations with the EU, the Austrian government congratulates Montenegro.
June 26, 2012
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Vienna International Airport Cancels Leases with Sardana
VIA filed legal proceedings against the Indian company. The bankruptcy proceedings should begin soon.
June 13, 2012
Former GDR Funds: Bank Austria Has to Pay € 245m
Bank Austria lost a Zurich retrial over German demands for repayment of more than € 245m linked to the former East German Communist Party.
April 21, 2012
Bank Austria Lost Madoff Case
Bank Austria distributed Primeo Funds, issued by the U.S. former investment banker Bernard Madoff. The prospectus did not contain sufficient information, a Viennese court decided.
January 13, 2012
Legal Success for Bank Austria
A Swiss court granted the bank’s appeal against an obligation to pay € 245m to a German public body.
December 2, 2011
Bawag Sues Linz For € 418m
The U.S.-owned bank now sues the Upper-Austrian capital. Linz has terminated a swap contract based on Swiss Francs.
November 8, 2011
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Linz Believes in Victory Over BAWAG
The capital of the province of Upper Austria filed a lawsuit against Bawag, which is held by the U.S. investment funds Cerberus.
November 2, 2011
U.S. Company Claims $ 25m From Andritz
The U.S. company Ovalstrapping accuses the Austrian technology Company Andritz to have copied its technologies. Andritz defends itself.
October 19, 2011
Austria Considers Lawsuit Against Hungary
The Austrian Minister of Foreign Affairs, Michael Spindelegger (ÖVP) threatens Hungary to file a lawsuit at the European Court of Justice. Hungary plans to stress banks massively.
September 12, 2011
Asfinag Pays First Dividend Since 2008
A pending lawsuit might cost the Austrian motorway financing company up to € 37m. Full-year profit is still expected to rise.
September 8, 2011
voestalpine Sues EU Over Plans for Carbon Emissions
The Austrian steel company and four German competitors filed a lawsuit against the EU. They argue that CO2 emission targets are unrealistic and unachievable.
July 21, 2011
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Constitutional Court Cancels Starting Date of New Capital Gains Tax
The Court has no objections to the new capital gains tax itself. Only the starting date for automatic collection by the banks was declared unconstitutional.
June 24, 2011
Atrium and Meinl Bank Agree to Stop All Legal Proceedings
The American-Israeli real estate fund and the Austrian bank reached a settlement agreement on the dismissal of all claims between them.
June 17, 2011
AUA: Broken Al-Jaber-Deal Has Consequences
One former and one current board member of the airline were sentenced to penalty payments for not having provided information to the shareholders.
June 9, 2011
Erste Group Wins Lawsuit in Sweden
In a legal dispute over shares in a Swedish bank worth € 225m, the position of the Austrian Erste Group was able to prevail.
April 21, 2011
Bizarre Allegations of Meinl against Atrium
The ongoing conflict between the Austrian bank and the US-Israeli real estate fund shows new and unusual facets.
February 16, 2011
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Accusations against Hypo Group in Slovenia
The Austrian bank is under investigation because of suspicious real estate and financial transactions.
February 15, 2011
Serious Allegations Against Former AUA CEO
Sheikh Mohamed Al Jaber, who wanted to take over Austrian Airlines in 2008, considers himself to have been seriously deceived by the former management and raises accusations.
February 10, 2011
A-Tec: Bad News from China
Because of a joint venture gone insolvent in China in 2008, there are unpaid claims for about € 15m against the Austrian A-Tec.
February 8, 2011
Atrium Terminates Trust Agreements with Meinl
The US-American/Israeli fund Atrium terminates trust agreements with the Austrian Meinl Bank AG under the 2003 and 2005 bonds due to “important reasons”.
February 3, 2011
Austria's Credit Industry Appeals to the Constitutional Court
The price gains tax introduced as of January 1, 2011 encounters legal resistance. The Banking Division of the Chamber of Commerce announced a complaint of unconstitutionality.
February 2, 2011
AvW Trial: Eight Years in Prison
An 8 years imprisonment sentence was imposed on the founder and CEO of AvW Group, Wolfgang Auer-Welsbach,
February 1, 2011
Skylink: Judicial Investigations are Presently being Conducted
The final report of the Audit Court on the Vienna International Airport Skylink project has been submitted. Criticism is devastating. Criminal investigations are starting.
February 1, 2011
Atrium: "Meinl Exploited its Position as a Trustee”
After the repayment of the convertible bond to the Austrian Meinl Bank, the real estate funds considers the calling as "blatant unlawfulness."
February 1, 2011
Meinl Bank to Cancel Previously Scheduled Bondholder Meeting
According to Atrium, a US/Israeli real estate company, circumstances causing a cross-default event do not subsist anymore.
January 29, 2011
Meinl Bank Continues to Claim Default of Atrium
Meinl Bank: „Atrium zahlt Meinl Bank states: "Contrary to their own announcement Atrium is not paying back the 10.75% convertible bond". Cross default risk remains upright
January 28, 2011
Atrium Repays Convertible Bond to Meinl
The American-Israeli real estate fund Atrium repays the 10.75% 2008 convertible bond to the Austrian Meinl Bank.
January 25, 2011
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