11/6/2022 0 Comments Hipo alpe adria![]() In its countersuit HAA has now demanded repayment of the interest and principal paid to BayernLB. In December 2012 BayernLB therefore petitioned Munich District Court for repayment of these receivables. Hypo Alpe Adria Bank International AG (HAA) has not repaid several outstanding loans from BayernLB totalling around EUR 2.35 billion, citing the Austrian Equity Capital Substitution Act. From the 2014 interim report & accounts, again: #Hipo alpe adria fullWhatever interest rate BayernLB charged on those loans, it wasn't enough.īut 800m Euros is not the full amount that BayernLB stands to lose. Loans provided to a bailed-out bank are effectively junk even if guaranteed by a sub-sovereign. Kärntner Landesholding’s legal liability to cover this debt is also cancelled. ![]() ![]() In respect of BayernLB’s loan receivables and contractual approval rights, the special law stipulates essentially that BayernLB’s claims against HAA in the amount of about EUR 800 million are void when the ordinance issued by the Austrian Financial Market Authority (FMA) in accordance with section 6, para. In addition to 890m Euros of guaranteed subordinated debt, the new law bails in 800m Euros of loans granted to HAA by BayernLB after its bailout. According to BayernLB's 2014 interim report & accounts, these loans were also guaranteed by the State of Carinthia (my emphasis): The scheme also envisages the inclusion of EUR 800 million in loans from Bayern LB, which were provided to Hypo Alpe Adria after the grant of state owned participation capital to Hypo Alpe Adria on 29 December 2008. According to the Austrian Ministry of Finance (quoted by Stephen Schmalzl, my emphasis): (Photo credit: Wikipedia)īut BayernLB's problem isn't subordinated debt. Hypo Alpe-Adria-Bank a.d.The World Bank & Inspection Panel's headquarters in Washington, D.C. ![]() Seat: Kneza Branimira 2b, 88 000 Mostar, BiHĬhairman of the Management Board: Sanela Pašić The main line of business involves receiving "deposits" for citizens, businesses, public institutions, and local self-governance units, as well as retail, corporate, public and self-governance unit crediting, rendering services of domestic and international payment operations, issuing "letters of credit" and guarantees, services of Custody, "corporate finance",ĭepository bank services for "investment funds", brokerage services for local and international "capital markets", card business, e-banking services for legal and private persons, bank assurance services, leasing services and products for legal and private persons. The bank renamed itself as Addiko Bank on 7 July 2016, making the brand "Hypo Alpe-Adria-Bank" no longer exist as an active brand in any successors. In December 2014 it was sold to Advent International (80%) and the European Bank for Reconstruction and Development (20%). In 2014 Hypo Alpe-Adria-Bank was under resolution, which the Balkan branches was incorporated as Hypo Group Alpe Adria AG. In 2009 Hypo Alpe-Adria-Bank was nationalized. ![]() A year after, Hypo Alpe Adria took over Kristal Bank Banja Luka, which has been operating under the name of Hypo Alpe-Adria-Bank a.d., Banja Luka since 2003. Hypo Alpe Adria has been present in the market of Bosnia and Herzegovina (BiH) since 2001, when it took over Auro Bank Mostar, which thereafter was operating under the name of Hypo Alpe-Adria-Bank d.d., Mostar. Banja LukaĪddiko Bank was the Balkan branches of Hypo Alpe-Adria-Bank International AG, which in 1990s explosively expanded into the Alps-to-Adriatic region. ![]()
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