Creditors Scuttle Austrian Bid to Dodge Carinthia Insolvency

  • Creditor group in lock-up agreement won't sell at discount
  • Insolvency of Carinthia negative for Austria, creditors say

Creditors of Heta Asset Resolution AG who say they control more than 5 billion euros ($5.5 billion) of the bad bank’s debt won’t sell at a discount, highlighting the battle Austria faces as it tries to share losses with creditors and prevent a provincial insolvency.

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