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THE DISTRICT COURT OF MUNICH I DENIES RECOGNITION OF HAASANG AND OF THE MORATORIUM REFERRING TO LIABILITIES OF HETA ASSET RESOLUTION

As a follow-up to our Client Alert of 3rd March on the HETA situation, please find attached a new Client Alert in response to media reports over the weekend of a not yet final decision of the District Court of Munich I. In the decision, the court denied recognition of the effects of the Austrian statute on restructuring measures for HYPO ALPE-ADRIA-BANK INTERNATIONAL AG (HaaSanG) as well as of the Austrian Act on the Recovery and Resolution of Banks (BaSAG) and has, to a considerable extent, granted the claim of Bayern LB against HETA for the repayment of several loans.

For further information please contact

Holger
Bielesz
Partner
Austria
Kurt
Retter
Partner
Austria
Claus
Schneider
Partner
Austria
Christine
Siegl
Consultant
Austria

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