EURAM Bank before: 547 million euros registered claims!

EURAM Bank before: 547 million euros registered claims!

The European American Investment Bank AG (Euram Bank) faces one of Austria's largest banking bankruptcy proceedings after the first examination day statute took place on March 6, 2025 at the Vienna Commercial Court. A total of 432 creditors have registered claims of around 546.5 million euros, with around 345 million euros no longer available on customer deposits, such as SN.AT Originally, only 300 million euros were expected of total liabilities. Jürgen Gebauer from KSV1870 made it clear: "The deposit insurance has priority, followed by the requirements of the savers with non -insured credit." The deposit guarantee ESA Austria has registered claims of 41.9 million euros, and it is expected that the deposits will be covered in full up to 100,000 euros.

The bank had to submit the bankruptcy application after the financial market supervision (FMA) prohibited business operations in October 2024 due to inadequate measures for money laundering prevention, followed by the opening of the bankruptcy proceedings at the end of the year. Now a withdrawal process for the banking concession by the European Central Bank (ECB) is underway, for which Stephan Mazal from Creditreform noted that withdrawal of the license is very likely, so 5 minutes . The current status of the company is worrying because the employee status was reduced from around 50 to only 29, while the insolvency administration is now busy using the bank assets. A forecast for the distribution of quotas for the creditors is currently not possible; Unsecured creditors could suffer a total failure, while non -secured deposit creditor could at least partially be compensated.

The complexity of the situation around Euram Bank also results from the Banking renovation and processing law (Basag), which provides for special regulations for banking insolvencies. Gebauer further explains that the regulations provide for a differentiated assessment of the various creditor groups. Claims of the deposit -proof customers are covered up to an amount of 100,000 euros per investor, so that affected customers can quickly expect compensation in this context. The legal and organizational structures of Euram Bank will be maintained for the time being under the supervision of the insolvency administration, even if a multi -year procedure is expected in the bankruptcy process.