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...The country’s largest lender destroyed a total of €25bn, according to Flossbach von Storch, more than defunct Wirecard, Hypo Real Estate and Arcandor combined....
...PBB — whose chief executive Andreas Arndt will shortly complete his term and be replaced by Kay Wolf, who was chief information officer at PBB’s parent company Hypo Real Estate between 2007 and 2010 — estimated...
...and therefore not covered....
...Run by Wall Street veteran Christopher Flowers, it tried and failed to buy Landesbank Berlin and later lost nearly €1bn on Hypo Real Estate during the financial crisis....
...Prosecutors had offered to end the criminal investigation against Mr Kengeter if he made a personal payment of €500,000 and if the company paid a fine of €10.5m....
...A former confidant described Mr Weimer as “very smart, very ambitious and very self-assertive”, and three German bankers who worked with him over the years said that Mr Weimer loves glamour and “the big...
...It has also resolved legal proceedings arising from its disastrous acquisition of Austrian bank Hypo Alpe Adria on the eve of the financial crisis....
...But analysts do not think significant changes are afoot after its previous misadventures, which included buying Austrian lender Hypo Alpe Adria on the eve of the credit crisis....
...BLB had countersued Mr Ecclestone and was seeking damages from him in connection to the share sale....
...“We have had a fight with Constantin and won it and that is the end of the road for Constantin,” he said....
...Hypo Alpe Adria was backed by guarantees provided by Carinthia, but fell victim to the global financial crisis that followed the collapse of Lehman Brothers investment bank in 2008....
...Now Hans-Jörg Schelling wants creditors to swallow losses of between 25 and 70 per cent on €10.8bn of bonds in a failed Austrian bank, Hypo Alpe Adria, whose expansion into east Europe turned sour....
...Austria was forced to nationalise Hypo in 2009, and subsequently pumped billions of euros into the stricken lender....
...The province of Carinthia, which provided state guarantees to Hypo Alpe Adria worth almost €25bn at their peak, and still theoretically worth as much as €11bn, could go bust if the rescue deal collapses....
...It argues the Austrian government has an obligation to help because it had supervisory responsibility for Hypo and provides the province with fiscal transfers....
...Austria and Bavaria have agreed a provisional deal that would finally settle their array of legal disputes stemming from the collapse of the Carinthian regional bank, Hypo Alpe Adria....
...Bayerische Oberlandbahn said in a statement: The accident is a huge shock for us. We are doing everything to help the passengers, their relatives and our employees....
...Unable to borrow cheaply in financial markets and facing a showdown with Hypo bondholders, Carinthia has had to slash spending and postpone investment....
...Services between the towns of Holzkirchen and Rosenheim are operated by Bayerische Oberlandbahn, a subsidiary of Transdev, which is majority owned by the French state-owned investment group Caisse des Dépôts...
...Hypo “epitomises the political influence that was exerted over Austrian banks in the past — and serves as a strong example of what not to do with a bank”, says Mr Treichl....
...Since late 2012, BayernLB and its Austrian counterparts have become embroiled in a dispute over €2.4bn which the German lender provided to Hypo. BayernLB says this was a loan....
...Hypo Alpe Adria was nationalised in 2009 after ambitious international expansion plans went badly wrong....
...German lenders use these covered bonds to refinance public sector infrastructure loans, commercial mortgages, and aircraft and ship loans....
...lender, Hypo Alpe Adria....
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