Settlement with UniCredit Bank Austria AG concluded
As is well known, the company suffered significant losses as a result of foreign currency trading carried out in connection with UniCredit Bank Austria AG up to the start of 2009. Some large enterprises as well as other companies from the area of wind power generation are also affected by this financial product, which has been previously aggressively advertised by UniCredit Bank Austra AG. In order to prevent UniCredit Bank Austria AG from being flooded with lawsuits, the bank was willing to negotiate and conclude a settlement with WEB Windenergie AG too, as well as to partially compensate WEB AG for the damage suffered. We cannot give any information about the amount of compensation here, since a non-disclosure agreement was concluded as a part of this deal.
CFO Dr. Michael Trcka said: "We are delighted to have concluded this settlement with UniCredit Bank Austria AG. Now that this dispute has been settled, this bank, which is one of the biggest players in the financing sector, will continue to be available for us as a cooperation partner in the area of project financing.”