The Austrian banks, in turn, had claims against German banks.
An Austrian bank, Oesterreichische Laenderbank, has just bought land for a large office building.
Six months later, an Austrian bank collapsed, resulting in a run on the rest of Austria's banks.
At that time, however, Austria was under economic pressure from a hostile Germany, and Austrian banks were in a precarious position.
Separate narrative lines intersect in an incident at the last of the film: a mass killing at an Austrian bank.
The $50 million in debt was provided by Credit Anstault, a leading Austrian bank.
Several players will be affected, but at particular risk are the Austrian banks which invested so heavily in the region.
A potential serious hiccup of the Austrian banks could mark a significant blow to Europe's already troubled banking system.
But the Austrian banks' lawyer said that while a settlement proposal is being circulated, all involved in the litigation had not yet reviewed it.
Bankleitzahl is a bank identifier code system used by German and Austrian banks.