Munich court orders Heta to repay loans to BayernLB

May 8, 2015 2:22 PM

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MUNICH May 8 A Munich court ruled on Friday that Austrian "bad bank" Heta must repay loans to BayernLB , handing the German state-controlled lender a victory in its efforts to recoup 2.4 billion euros ($2.69 billion).

Presiding Judge Gesa Lutz ordered Heta, the vehicle set up to wind down the remnants of former BayernLB unit Hypo Alpe Adria, to repay loans worth more than 1 billion euros plus debt totalling more than 1 billion Swiss francs ($1.08 billion).

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