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...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.