Hypo Alpe-Adria-Bank International AG’s senior notes pared yesterday’s loss of almost 4 percent after Austria’s government said it hasn’t changed plans to repay them in full and impose losses on junior bondholders.
Josef Martinz, a former ally of the late Austrian politician Joerg Haider, told an Austrian court today that he and Haider agreed to divvy up kickbacks linked to the sale of Hypo Alpe-Adria-Bank International AG in 2007.
Austrian Chancellor Werner Faymann said the government is right to avert the collapse of Hypo Alpe- Adria-Bank International AG, as he cited the precedent of Creditanstalt, whose crash helped trigger the 1930s depression.
Austrian conservatives kept the option to form a government with euro-skeptic parties and abandon an alliance with the socialists after voters dealt that coalition an historical blow in yesterday’s national elections.
An Austrian regional court convicted former allies of the late Austrian politician Joerg Haider in a trail over kickbacks linked to the sale of Hypo Alpe-Adria-Bank International AG in 2007, Austria Press Agency reported, citing Judge Manfred Herrnhofer.
Joerg Haider , the Austrian anti- immigrant nationalist leader killed in a 2008 car wreck, may accomplish posthumously what he didn’t do in life: revamp the nation’s politics by revealing its broken party financing.
Frank Stronach, the 80-year-old Austrian billionaire who made his fortune selling car parts and running horse-racing tracks, today began a political campaign to rule the Alpine Republic when citizens vote next year.
Austria stepped up a legal battle with Bavaria yesterday, demanding Germany’s richest state pay a bigger share of losses at Hypo Alpe-Adria-Bank International AG, a bank the two governments jointly rescued three years ago.