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1:52:13 PM EDT - Wednesday, July 29, 2015U.S. Stock Markets close in 2 hours and 7 minutes.
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Feature Article

07/29/2015 - 7:52am By: Max Keiser

An attempt by Austria to bail-in junior bondholders at the Heta "bad bank" has been overturned by the highest court in the country.

Last year Austria passed legislation which annulled guarantees previously given by the state of Carinthia to bondholders of Heta, effectively writing off €890 million.

Heta was set up to manage the assets of failed lender Hypo Alpe-Adria-Bank. Carinthia state had guaranteed around €10 billion of Heta debt -- a figure which dwarfed its own revenue more...


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