Press Release: State aid: Commission approves plan to orderly wind down Hypo Group Alpe Adria

The European Commission approved on the 3 September 2013 a plan to orderly wind down the Austrian bank Hypo Group Alpe Adria (HGAA). The Commission found that the plan presented by the Austrian authorities was compatible with EU state aid rules. Together with the approval of the plan, the Commission cleared both the aid hitherto granted to HGAA and additional aid possibly required for the wind-down.

• Primary Source

European Commission: RAPID: MEMO/13/762: State aid: Overview of decisions and on-going in-depth investigations in the context of the financial crisis http://europa.eu/rapid/press-release_MEMO-13-762_en.pdf

ESO: Background information: State aid: Commission approves emergency rescue aid for Austrian bank Hypo Group Alpe Adria http://www.europeansources.info/record/press-release-state-aid-commission-approves-emergency-rescue-aid-for-austrian-bank-hypo-group-alpe-adria/

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