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Restructuring

OeNB Favors Examination of Bad Bank for Hypo

The Austrian National Bank (OeNB) has, according to Govenor Ewald Nowotny, requested to examine models for the establishing of a bad bank for Hypo Group. This was announced by Nowotny on Monday

July 8, 2013

Hypo: Greens vs. Fekter

The debate about a Hypo Group has turned out a genuine match between deputy chief of the Austrian Green Party Werner Kogler and Finance Minister Fekter.

July 4, 2013

Hypo Group: CESEE Units to be Sold Until Mid-2015

The threatened compulsory sale of nationalized Hypo Alpe Adria Group by the EU Commission until the end of this year, was, according to information by the Finance Ministry, fended off. An additional burden of € 2bn might await the Austrian taxpayers.

July 1, 2013

Crisis in Slovenia Might Take Longer Than Expected

According to the latest economic report by auditing firm Ernst&Young;, the financial crisis in Slovenia will take longer than expected beforehand. However, the country should still be able to avoid international bailout.

July 1, 2013

Hypo Group and BayernLB Keep on Fighting

Hypo Group responds to the BayernLB’s lawfile at the Regional Court in Munich. Both banks will not give up their very hard stance.

June 26, 2013

Last Try to Save Polish Airline LOT

Poland’s National Treasury starts a final attempt at saving Polish Airlines LOT.

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

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

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

Fekter: The North Feeds The South

Finance Minister Fekter compares the situation in Europe with the economic circumstances in Italy.

June 11, 2013

Hypo Group: Fekter Under Pressure

Finance Minister Fekter is put under pressure by Austrian Green Party to establish a bad bank for Hypo Group.

June 10, 2013

Austria: Alpine to Require More Funding

Selling of affiliates will be postponed.

June 7, 2013

Hypo Group: Italian Affilate Not to be Closed

The nationalized Carinthian bank has no plans of shutting down its Italien affiliate.

June 4, 2013

Austria: Finance Ministry Regrets Ditz’ Withdrawal

Johannes Ditz, chairman of Hypo Group’s suvervisory board, announced his withdrawal yesterday.

June 4, 2013

Slovenia: NKBM Still In the Reds

Particularly high risk provision caused the bank a net loss of € 8.5m. Even for the whole of 2013, losses are expected.

May 31, 2013

Poland: Alterated Restructuring Plan for LOT

LOT alters restructuring plan, expects more public aid

May 29, 2013

Hypo Group to Sell Austrian Affiliate

On Friday the deal of nationalized Hypo Bank’s Austrian affiliate will finally be sealed. Indian Srei Group will become the new owner in all likelyhood. The company will pay € 60m to € 70m.

May 29, 2013

Austria: Faymann Positive About Extension for Hypo Group

Chancellor Werner Faymann presented himself restrained yet confident about the extension granted by the Commission regarding the deadline for the winding-down of Hypo Alpe Adria Group.

May 24, 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

Nowotny: Decision About Bad Bank for Hypo Not Essential Right Now

The Governor of Austrian’s National Bank confirms that the result for the ailing Hypo Group will not be “good” due to the losses that have amounted over the past years.

May 23, 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

Austria: New Bidder for Hypo Group

Apart from Indian Srei Group, a new interested party has entered the match for the ailing banking institute.

May 16, 2013

Voestalpine Hopes for Participation in South Stream Project

CEO Eder announced the Austrian Steel Manufacturer was leading “intensive” talks with Russian energy company Gazprom.

May 16, 2013

Poland: Rescue Loan for LOT Approved

A new law passed on Friday makes it possible to privatize Polish carrier LOT.

May 16, 2013

Poland: LOT Ready To Be Privatized

A new law passed on Friday makes it possible to privatize Polish carrier LOT.

May 14, 2013

Austria: Task Force for Hypo Group

The Austrian government is going to establish a task force for the nationalized by force problem bank Hypo Alpe Adria Group.

May 8, 2013

EU Commission: Action Plan for Steel Industry in Europe

During his visit to Linz, EU Commissioner for Industry and Entrepreneurship Antonio Tajani announced measures for the steel industry in Europe.

May 7, 2013

Austria: Restructuring Plan for Hypo Group Threatened By Rejection

The restructuring plan of Austrian crisis-struck banking institute Hypo Group is threatened to be rejected by the EU Commission.

May 6, 2013

Croatia: Pushing Ahead With Croatia Airlines Restructuring

Despite of protests of employees restructuring measures will be continued.

May 3, 2013

Croatia Airlines To Cancel Flights After Staff Went On Sick Leave

Croatia Airlines had to cancel 13 flights on May 1, after 25% of the airlines staff went on a sick leave, in what the heads of the airline consider a protest against changes to employment conditions.

May 2, 2013

Croatia: Trying to Sell Croatia Airlines

Croatia is starting an attempt to try and sell a stake of troubled Croatia Airlines (CA).

April 25, 2013

IMF Warns Eurozone of Ongoing Risks to Economic Stability

The International Monetary Fund has warned the Eurozone in a Global Financial Stability Report, urging for a reforming zeal and restructuring of weak banks.

April 17, 2013

Slovenia: “We Will Need No Bailout This Year”

Since Greece, Spain and Cyprus are currently finding themselves in disastrous economic situations, Slovenia does not want to seem like the next bail-out candidate.

March 30, 2013

How Austrian Airlines Intends to Soar Again

In an interview with the Austrian newspaper Presse, Jaan Albrecht, head of Austrian Airlines explains why he had to carry out sudden drastic measures and what the future of the airline should look like.

March 29, 2013

Slovenia: NLB Gets Own Bad Bank

Slovenia biggest bank, Nova Ljubljanska Banka (NLB), is going to establish its own intern bad bank.

March 28, 2013

Austria: Tyrolean Administration to Be Relocated

Austrian Airlines is about to relocate Tyrolean’s administration to Vienna along with new managing director Klaus Froese. Around 100 of the total of 400 staff members working in Innsbruck are concerned.

March 28, 2013

Cyprus: Outflow of Billions of Euros Presumed

Investors in Cyprus could face haircuts up to 50 %. Parliamentary President, Omirou want to go into details about the alleged transfer of assets despite of the banks closing.

March 26, 2013

Head of Bank of Cyprus Withdraws

Head of Cyprus’ biggest bank withdraws. Cyprus’ Labor Minister warns of recession and economic downturn due to the austerity measures imposed by the EU and Commission.

March 26, 2013

Medvedev Vexed Over EU

In case the government will not come to conclusion how to generate the required money (€ 5.8bn), the ECB will cut off the money supply for Cyprus’ ramshackle banks.

March 25, 2013

Cyprus: Bail-Out Package Accepted

Cyprus has been granted the € 10bn worth aid package by the EU. After ten hours of negotiations in Brussels the decision was made early this morning. Assets below € 100,000 will not be taxed.

March 25, 2013

Lithuania: Problem with Ūkio Bankas Solved

The newest Lithuanian financial market data show that the market participants positively assessed the solution chosen by the Bank of Lithuania to deal with the problem of Ūkio bankas.

March 25, 2013

VBAG is Forced to Continue Radical Downsizing Measures

The partly nationalized and financially stricken Austrian banking group has to implement a painful restructuring concept. At the moment, VBAG sells its properties.

March 15, 2013

Austria: Post Shows Solid Revenues

In 2012, Austrian Post generated € 123.2m and was therefore able to slightly increase the turnover. € 1.80 is being declared per share, which is a raise of € 0.10.

March 14, 2013

Austria: Hypo Group Still Sailing in Stormy Waters

Hypo Group wants a fast selling until the end of 2013. Vending of Italian and CESEE subsidiaries could take longer as the economic situation is not appealing at the moment.

March 12, 2013

Austria: Nationalizing Hypo Group Prevented BayernLB from Losses

EU Competition Commission pushes the Austrian government to shut down the loss-making Hypo Group.

March 11, 2013

Austria: Hypo Managing Board Warns of Losses

Hypo Group’s managers fear that selling the bank precipitately might lead to additional losses up to € 5bn for the bank and federal state.

March 7, 2013

Austria: New CEO for Alpine

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

March 5, 2013

Austria: Alpine Turns Out a Big Burden For FCC

The construction company has avoided bankrupcy and is save – for the time being.

March 5, 2013
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