Heta law does not alter settlement terms -Austria finmin

September 22, 2015 8:53 AM

37 0

VIENNA, Sept 22 Austrian Finance Minister Hans Joerg Schelling said on Tuesday a bill being discussed at a cabinet meeting to pave the way for a settlement with Bavaria over failed bank Hypo Alpe Adria, from which "bad bank" Heta was formed, would not change the terms of that settlement.

Another piece of legislation would prepare the ground for the Austrian province of Carinthia to buy back Heta debt. Carinthia, Hypo Alpe Adria's home province in Austria, has given guarantees for 10.2 billion euros' ($11.41 billion) worth of Heta debt. ($1 = 0.8936 euros) (Reporting by Shadia Nasral...

Also read: Monte Paschi sees 4.8 bln euro loss in 2016 after capital plan

Read more

To category page