Dispute: Bank Austria wants Oberbank to sue its own boss

Dispute: Bank Austria wants Oberbank to sue its own boss
Oberbank headquarters
Image: VOLKER Weihbold

According to “Kurier”, Bank Austria wants Oberbank and BKS (Bank for Carinthia and Styria) to sue their own managers for damages of more than six million euros, led by bosses Franz Gasselsberger and Herta Stockbauer. This will also be a topic at the Oberbank general meeting next Tuesday.

The dispute over influence and control between 3-Banks and Bank Austria, which is the largest single shareholder in Oberbank, BKS and BTV (Bank for Tyrol and Vorarlberg), has been going on since 2019. The current issue is that Oberbank and BKS in autumn 2022 used their syndicate right of first refusal and acquired the BTV shares that Wüstenrot had offered. On the same day, these were resold at market price to G3B Holding (Generali) and BTV Privatstiftung. This resulted in a loss.

“The content of the allegations is wrong”

Bank Austria sees a financial loss for Oberbank, BKS and their shareholders. The Oberbank reports: The allegations are “incorrect in terms of content and legally incorrect”. In order to maintain the value and earning power of the BTV holding, the board of directors felt obliged to ensure the protection of the syndicate.

Source: Nachrichten

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