German Fin Min: Legal Fight Ahead Over Payment Halt on Hypo Alpe Adria Debt
March 10 2015 - 9:01AM
Dow Jones News
By Gabriele Steinhauser
BRUSSELS--There will be a legal fight over a decision by the
Austrian government to halt payments of the debts of defunct bank
Hypo Alpe Adria, Germany's finance minister said Tuesday.
"We are both prepared to have that legal fight," Wolfgang
Schäuble said.
Austria's market regulator said last month that payments on more
than EUR11 billion of debt owed by Hypo's "bad bank" would be
halted after the government decided not to put any more taxpayer
money into the bad bank, known as HETA Asset Resolution.
One of the big holders of old Hypo debt is its former owner,
German regional bank BayernLB.
Write to Gabriele Steinhauser at
gabriele.steinhauser@wsj.com
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