Image: APA/BANK AUSTRIA
The Supreme Court upheld a decision by the Innsbruck Higher Regional Court that a lawsuit against Bank für Tirol und Vorarlberg (BTV) was formally inadmissible.
Since 2019, Bank Austria, as a major shareholder, has been trying to take action against the integration of the three banks. Through a syndicate structure, they determine the fate of the group together with Generali Versicherung.
Bank Austria demanded that the board of directors pay damages, but suffered a series of defeats in court. The subsidiary of UniCredit still sees positive aspects in the judgment of the last instance, because some things have been clarified and shareholder rights have been strengthened.
Source: Nachrichten
