GemNova - Tyrolean Municipal Association for Million Dollar Settlement
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The Tyrolean Association of Municipalities is seeking an out-of-court settlement for its insolvent GemNova group of companies. Insolvency administrator Stefan Geiler is demanding €6.5 million from the association, while association president Karl-Josef Schubert wants to agree to a lower amount. Otherwise, the municipalities face a series of lawsuits, according to a report in the "Tiroler Tageszeitung" on Saturday.
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