AUSTRIA: TRIGON BANK LOOKING FOR INVESTOR
Article Abstract:
The troubled Vienna-based Trigon Bank hopes to find a new investor by the end of January 2000. Negotiations are said to be under way with a west European financial institute which is not yet represented in Austria. The bank is also negotiating with two groups of private investors. The new partner is to be offered a majority stake in Trigon. On 3 January 2000, the bank decided on a capital increase from Sch 168.5mn to Sch 370mn. Instead of small savers, Trigon Bank is to focus in the future on rich eastern European clients.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: STRICTER CONTROL ON TRIGON BANK
Article Abstract:
The bank watchdog in the Austrian finance ministry has given wider authorities to the "government commissioner" that was appointed in 1999 to supervise the operations of the bank. Now all dealings have to be approved by the commissioner. Trigon Bank AG got into trouble in 1999 after clients rushed to withdraw their deposits
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: TRIGON BANK GOES BANKRUPT
Article Abstract:
Vienna Trade Court has accepted the bankruptcy petition filed by the bank watchdog of the Austrian finance ministry on Trigon Bank AG. The Vienna-based bank with about 24 staff stopped trading in October 2000. Since then more than 1,400 clients have filed applications with the deposit guarantee fund for compensations of more than Sch 200mn. The ownership of the bank is not known.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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