French Court Seals Ex-BAWAG CEO's Fate

Law360, New York (November 29, 2006, 12:00 AM EST) -- The former BAWAG PSK chief executive whose alleged mishandling of funds led to billions of euros in losses for the Austrian bank and contributed to Refco Inc.’s collapse is headed back to his native country after the French Supreme Court rebuffed his final attempt to fight extradition.

On Wednesday, the Cour de Cassation in Paris denied Helmut Elsner’s appeal, paving the way for Austrian authorities to seize the former chief executive so that he may stand trial in Austria.

Last month, Elsner’s lawyer filed an appeal...
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