Article Tools

Tax Payers to Finance AvW Bankruptcy after all?

Published: June 8, 2016; 16:00 · (FriedlNews)

Tax payers may have to finance the bankruptcy of Carinthian financial company AvW after all, Presse daily reports in its online issue. The damage is estimated at EUR 148 million (USD 168.2 million).

Tax payers to finance AvW bankruptcy after all / Picture: © AvW

Tax payers may have to finance the bankruptcy of Carinthian financial concern AvW after all, Presse daily reports in its online issue.

The damage is estimated at EUR 148 million (USD 168.2 million).

The Finance Ministry has been trying to fix an amendment of the securities laws, which could potentially allow a transfer of investor losses to the state, but so far the draft has been presented only to Business Chamber and Labour Chamber members.