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.
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.
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.
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.
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.
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 and Bavaria are stepping up a legal battle over who will foot the bill for billions of euros of losses at Hypo Alpe-Adria-Bank International AG, three years after the two made a deal to avert its collapse.