Austria charges bank after Cuban accounts cancelled

Author: Reuters, Published on: 27 April 2007

Austria is charging BAWAG, being taken over by U.S. investor Cerberus Capital...with violating European Union rules after the bank cancelled the accounts of around 100 Cubans...BAWAG, Austria's fifth-largest bank, told around 100 Cuban clients earlier this month that it had to cancel their accounts because U.S. sanctions against Cuba meant Cerberus could not buy BAWAG if it kept them as clients. Plassnik [foreign minister] told Austria's parliament...that BAWAG had violated EU rules...

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Related companies: Bawag P.S.K. Cerberus Capital Management