US EditionBgh Judgment: Wirecard Shareholders Probably Don't Get Any Money Back
25 Articles
25 Articles
Tens of thousands of shareholders of Wirecard have hoped for years to get their money back in insolvency proceedings. According to a ruling of the Federal Court of Justice, however, the chances for this are now bad. By Egzona Hyseni.
According to the Federal Court of Justice, 50,000 are not entitled to compensation, even in the case of criminal machinations. There is also nothing to fetch from the company's capital audit company.
Around 50,000 shareholders of the insolvent payment service provider have claims of many billions of euros, but the insolvency mass is only a fraction so large. The Federal Court of Justice has now dismissed a lawsuit by investors.
Tens of thousands of shareholders claim damages from Wirecard in insolvency proceedings. However, the Federal Court of Justice ruled that they are subordinated to the distribution of insolvency assets.
The Bundesgerichtshof dismissed a claim by Wirecard shareholders for payment from insolvency measures. Therefore, the claims of the creditors have priority.
In the Wirecard-Pleite case, it remains with the usual distribution of the funds from the insolvency mass. Thus, it looks bad for the shareholders to get their money.
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