Bankruptcy ex-Meinl-Bank: Creditors claim over half a billion euros

In the bankruptcy proceedings of the ex-Mainl-Bank, the creditors filed claims of more than 510 million euros. Far less recognized so far. The insolvency administrator also examines claims against former bodies and shareholders.

In the insolvency proceedings of the former Mainl Bank, which traded under the name Anglo Austrian AAB AG after the banking license was withdrawn, 382 creditors filed claims of € 510 million in the Commercial Court (HG) Vienna. The KSV1870 credit protection association reported on Thursday. The insolvency administrator has recognized around 151 million euros as absolutely existing, and the creditors’ protectors expect further acknowledgments and a lengthy process.

In early March, bankruptcy proceedings were opened against the assets of the former Mainl Bank. However, legal remedies have been filed against the decision of the commercial court to open insolvency. Overall, the bankruptcy case landed twice before the Supreme Court (OGH), reminding the CSV. Even the EU. Court (EGC) was concerned about the revocation of the banking license.

In terms of bankruptcy, creditors (customers) of the former Mainl Bank, the courts and the Financial Market Authority (FMA) have for months basically argued about what is or was corrected to apply for bankruptcy. The decision to open insolvency is only legally binding for a short time.

The insolvency administrator is still unable to complete his review because of the large volume of claims, according to the CSV. The liquidation of the former money house is very complicated. The insolvency administrator mainly checks whether the identified assets are of value. Essentially, it is about credit claims and other claims against domestic and foreign companies as well as various investments.

It will also be checked in detail whether there are claims against former bodies or shareholders of the ex-Mainl-Bank.

“From today’s point of view, KSV1870 expects the process will take longer.” Whether the creditors will receive a quota payment and if so, in what amount can not be estimated currently.

Customers whose claims are covered by the deposit protection – balances of up to 100,000 euros – would have already received their money.

The inspection meeting occurred on Thursday morning in commercial business.

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