On 12 February 2016, the German Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, orBaFin) declared Maple Bank GmbH (“Maple”) as an indemnification case, meaning that the German deposit insurance institutions can compensate the bank’s creditors.

BaFin had previously filed an insolvency petition against Maple, and the insolvency court in Frankfurt am Main opened insolvency proceedings on 11 February 2016. It appointed an insolvency administrator who is now responsible for managing Maple’s affairs.

By an ordinance (Mandatsbescheid) issued on March 1, 2015, the Austrian Financial Market Authority (“FMA”) has initiated the resolution of HETA ASSET RESOLUTION AG (“HETA”). HETA is the “bad bank” that was established to assume and manage large parts of the Austrian Bank Hypo-Alpe-Adria, which was required to be resolved in accordance with EU regulations. HETA is 100 percent owned by the Republic of Austria, and it currently manages assets worth approximately EUR 18 billion.