On 10 July 2017, the Commission announced the public consultation on the development of secondary markets for non-performing loans (NPLs) and distressed assets. Following the commencement of this public consultation, the Council introduced its Action Plan for NPLs.
Austria, European Union, Banking, Capital Markets, Insolvency & Restructuring, Schoenherr, European Banking Authority, ECB, European Systemic Risk Board
Legal Status
Austria, European Union, Banking, Capital Markets, Derivatives, Insolvency & Restructuring, Schoenherr
Introduction
On October 20 2010 insolvency proceedings were opened against A-TEC Industries AG, the Austrian holding company of industrial group A-TEC. With outstanding debt of around €650 million (including contingent claims), this insolvency is set to be the third-largest insolvency in Austria to date. Claims included around €300 million of bond debt (two convertible bonds and a corporate bond) issued by the company.
Austria, Insolvency & Restructuring, Litigation, Schoenherr, Bond (finance), Retail, Debtor, Consumer protection, Debt, Holding company, Corporate bond, Convertible bonds, Pro rata, Trustee