Hypo Vorarlberg defends loans

BREGENZ. With the insolvent Signa Group led by Rene Benko, Hypo Vorarlberg has seven financing options open. There is collateral for all projects, said bank boss Michel Haller on Tuesday. Whether the money – the maximum default volume is 131.2 million euros – will ultimately be lost is anyone’s guess. Haller defended the loans, saying they were granted according to common criteria and standards. “Based on the information available at the time, they were able to be awarded,” he said. Today, of course, he would prefer it not to have been done. There have been business relationships with Signa since 2000.

In the next few days, the Innsbruck insolvency court will decide on Finanz’s application for insolvency proceedings over Benko’s private assets. The deadline for submitting further documents expired at midnight.