Austrian Times RSS FeedsLike the Austrian Times Facebook page!Follow us on Twitter!


Events for July
M T W T F S S
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Add your event FREE

Today

Videos


BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria


Cosmo&Nanu

State will not buy Essl paintings

The owner of Austria's largest private art collection will not be selling his 7000 paintings to the Austrian state after he withdrew his offer from the table during negotiations with government officials.

Founder and owner of bauMax DIY chain Karlheinz Essl, 74, had last week offered his art collection up for sale to both help protect 4000 jobs in his struggling company and to ensure the collection would not be seized by bank creditors and potentially separated.

A round table discussion between Essl, government officials and bank representatives went positively according to government spokespeople, although once all the options of a state purchase were explored, Essl decided to take his offer off the table.

Speaking after the meeting, Austrian culture minister Josef Ostermayer said that the discussions with three major creditor banks had left him feeling positive. "Everyone wants to work on a constructive solution for the company," he said. "The conversation makes me positive that there will be a good future."

BauMax is thought to be in debt to creditors but Essl had been hoping that together with support from the bank, the money raised from the sale of his art would help to restructure bauMax and save jobs.

A spokesperson for BauMax has denied the company is on the brink of insolvency but confirmed that they made a loss in 2012 and were given 78 million EUR by the bank in the same year.

Austrian Times


Are you on Facebook? Like the Austrian Times on Facebook and win great prizes!


Cosmo and Nanu
ORF Watch

Tag cloud:
table  owner  constructive  Ostermayer  bank  jobs  sale  bauMax  collection  positive  government  money  creditors  paintings  Essl  solution  brink  discussion  Austria  conversation

Latest News

 

Teen Dying Of Cancer Killed At Charity Event After Ride In Porsche Goes Wrong
The family of a sick boy who was offered a trip in a high-performance Porsche because he was dying of cancer is suing the charity after the Porsche he was travelling in crashed head-on into oncoming traffic.

Japanese Pervert Planned Natascha Kampusch Style Kidnap
A Japanese man inspired by Austrian pervert Wolfgang Priklopil kidnapped a 10-year-old girl and kept her in a purpose-built cellar where he planned to train her to become the perfect wife.

German Hiker Yodels For Help After Getting Trapped In Cattle Grid
A portly hiker dressed in traditional Lederhosen was rescued after he yodeled for help after getting stuck for three hours in a cattle grid.

Austrian Wine Grower Sets New Record For Maturing Grapes
An award-winning Austrian winegrower is believed to have set a new record after leaving harvested grapes for an incredible nine months before fermenting them to create an ultra-sweet white and red wine.

Austrian Castle Owner Shocked By Airplane Wheel In Duck Pond
An Austrian castle owner got a shock after discovering this massive aircraft wheel had landed in his duck pond.

Glock Receives Austrian Award At Birthday Party
Austrian gun maker Gaston Glock has celebrated his 85th birthday with a huge ceremony in which the charitable work of himself and his wife Kathrin was honoured with a top Austrian award, and confirmation that this year two streets and a business park are to be named after him.

Sausage Surprise As Giant Wurst Is Pinched
Austrian police are hunting crooks who broke open a market stall and stole a 1.5 metre sausage worth over 2,000 EUR in the picture postcard village of St Michael in the region of Lungau.

Multi Coloured UFOs In Formation Over Austria
Austrian officials say they are baffled to explain a UFO sighting in which dozens of people reported seeing between 50 and 100 objects flying in formation.

Priests Furious After Porn Films Shot In Local Parish Church
A furious Austrian Catholic priest has complained to police after discovering a local woman had apparently been using his church as a studio to make porn films.

Two metre snake sends woman motorist fleeing
An Austrian motorist got a shock after noticing something hanging down from under her car and realising it was a huge two metre snake that had ended up curled around the engine.

 


Mala Vrata

The most popular stories –
last 7 days



Don't moan alone, the Ombudsman Investigates.

Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.

Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.


Austrian Zimmers