H "ΔΥΝΑΤΗ" ΟΙΚΟΝΟΜΙΑ ΤΗΣ ΑΥΣΤΡΙΑΣ… ΣΕ BAIL-IN ! 

The highlights from the announcement:
Today, the Austrian Financial Market Authority (FMA) in its function as the resolution authority pursuant to the Bank Recovery and Resolution Act (BaSAG – Bundesgesetz über die Sanierung und Abwicklung von Banken) has issued the key features for the further steps for the resolution of HETA ASSET RESOLUTION AG. The most significant measures are:
– a 100% bail-in for all subordinated liabilities,
– a 53.98% bail-in, resulting in a 46.02% quota, for all eligible preferential liabilities,
the cancellation of all interest payments from 01.03.2015, when HETA was placed into resolution pursuant to BaSAG,
– as well as a harmonisation of the maturities of all eligible liabilities to 31.12.2023.
According to the current resolution plan for HETA, the wind-down process should be concluded by 2020, although the repayment of all claims as well as the legally binding conclusion of all currently outstanding legal disputes will realistically only be concluded by the end of 2023. Only at that point will it be possible to finally distribute the assets and to liquidate the company.
http://www.bloomberg.com/news/articles/2016-04-10/heta-s-creditors-forced-to-share-losses-by-austrian-regulator-imuocris