'Bad bank' Heta signs off on Austrian-Bavarian settlement

September 21, 2015 8:03 PM

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VIENNA, Sept 21 Austrian 'bad bank' Heta , formerly the lender Hypo Alpe Adria, said on Monday it had signed off on a political deal to settle claims for billions of euros between Austria and the German province of Bavaria.

In July, Austria offered to pay Bavaria at least 1.23 billion euros ($1.38 billion) to settle a multitude of court cases relating to Heta, potentially ending years of acrimony between the neighbours.

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