Stiassny resigns from Buy-Out Central Europe

The announcement follows a recent court decision concerning Stiassny's role in the Libro Scandal in his prior position as director of Austrian private equity firm Unternehmens Invest AG (UIAG).

In 1997, the UIAG and other investors acquired stationary and book retailer Libro. Two years later the company was listed on the stock exchange and went into administrations shortly after. The board of directors, of which Stiassny was part of, was subject to speculation over inconsistencies in the company's financial reports.

Stiassny was convicted for breach of trust and falsification of the balance sheet. The court's decision is not final and Stiassny's legal team has appealed.

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