Hypo Alpe Adria sues BayernLB in payments row
VIENNA Aug 23 (Reuters) - Austrian lender Hypo Alpe Adria has sued its former owner BayernLB in a German court in an ongoing battle over funds that the German lender parked at Hypo before Austria nationalised Hypo in 2009.
Hypo last year halted repayment of most of the 2.3 billion euros ($3.08 billion) it still had on hand from the bank owned by the German state of Bavaria.
It also demanded back much of the 2.3 billion it had already repaid, arguing that the money had to be treated temporarily as a substitute for equity rather than debt while it tries to get back on its feet.
A Hypo spokesman confirmed a report by newspaper Der Standard on Friday saying it had filed suit at a Munich court demanding back around 710 million euros for funds that it had repaid from August 2008.
The statute of limitations would otherwise have blocked such a claim after five years, he said, adding BayernLB had refused to waive the five-year limit.
BayernLB has also filed suit to try to get its money back.
BayernLB and the court were not immediately available for comment. ($1 = 0.7461 euros) (Reporting by Angelika Gruber; writing by Michael Shields; editing by Tom Pfeiffer)
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