Gleiss Lutz has successfully advised Hypo Alpe Adria in a state aid proceeding at the European Commission. The bank, headquartered in Klagenfurt, Austria, had gotten into difficulties in the course of the financial crisis and was supported by Austria with state aid. Following long and intensive negotiations with the Commission, the aid measures in favour of Hypo Alpe Adria were approved today subject to the condition that the bank undergoes a fundamental restructuring.
The case has been handled by Dr. Ulrich Soltész (partner), Christian von Koeckritz and Philipp Melcher (all EU State aid, Brussels).
For many years Gleiss Lutz has been an important player in the field of EU State aid law. The firm has been particularly active in restructuring cases during the financial crisis.
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