Euram bank bankruptcy: 1,600 creditors worry about millions!

Euram bank bankruptcy: 1,600 creditors worry about millions!

The bankruptcy of the European American Investment Bank AG, better known as Euram Bank, causes excitement and great uncertainty among the creditors. So far, claims of impressive 547 million euros have been registered, but only 354 million euros have been recognized. The bankruptcy, which was officially already officially in December 2024, brings domestic investors to a precarious location. According to bankruptcy expert Mazal, inserters whose credit is up to 100,000 euros can count on a complete reimbursement, while those with higher deposits are at least partially compensated. Obvious creditors, on the other hand, must be prepared for a total failure, as krone.at reported.

The bank's assets are underway after the financial market supervision (FMA) had stopped operating in October 2024 due to poor money laundering prevention measures. Since then, the number of employees has been reduced from 50 to 29, and further cuts can be expected. The Euram Bank, which was founded in 1999 and was active in Europe and other regions, is now facing an uncertain future.

KTM in financial imbalance

parallel to the situation at Euram Bank, KTM's bankruptcy ensures large waves in the economy. Over 1,600 creditors fear outstanding payments that amount to a total of 1.3 billion euros, including debts at almost 180 banks worldwide. According to Puls24.at not only banks among the creditors, but also service providers such as coffee suppliers and confectionery. Local banks like UNicredit Bank Austria and Raiffeisen Bank International, which have a significant contribution to suffering from financial turbulence, are particularly hard.

The financial situation of KTM is alarming. At the end of 2023, the debt at banks was almost 800 million euros. Thousands of employees also have to do without their Christmas bonus and salaries for November - a fact that could harm trust and stability in the industry. The international creditor landscape extends over countries such as Germany, India and the United States, which continues to complicate the situation.