Euro Hypo AG intends still further lowering of the voting equity by 11.6 percent. The participation certificate holders of the Euro Hypo AG was reached in the dispute about the PPCs first success. According to the District Court of Frankfurt by order of 02/05/2011 has decided against a genus notes creditors that the Euro Hypo must pay extra for the fiscal year 2009, interest on the two profit-sharing certificates of Euro Hypo AG, WKN 556 838, and WKN 805 976 (the original issuer mortgage company in Essen). Furthermore, the court ruled that the repayment claim is not for those two voting equity reduced by losses.
The court reasoned the decision to not provide for participation certificate require annual distributions that depend on it, that this causes no net loss. Because of the domination and profit transfer agreement between the Euro Hypo AG and Commerzbank is Germany Holding GmbH rise to any such net loss at Euro Hypo AG not, however, that there is a controlling undertaking required to offset the net loss. For the same reason in the opinion of the Court is also a reduction of capital repaid benefit not allowed. Regarding the participation certificate under the symbol 810 109 (original Rheinhyp Issuer), the action of the voting equity creditor in the first instance was only partially successful. Thus, the Court held that although a reduction in the reimbursement claim to be inadmissible, the € Hypo AG but not convicted of interest payments. Background of the decision is that this non-voting interest payment from a net profit of € Hypo AG addictive.
intends Despite this ruling, the Euro Hypo AG on the basis of the 2010 fiscal year losses expected reimbursement claims of the certificates by another 11.6% of the principal amount be reduced (see the ad-hoc communication Euro Hypo AG dated 02/22/2011). Also, interest payments on the voting equity securities and the Trust Preferred Securities are expected on the basis of expected losses fail in the € Hypo AG for the fiscal year 2010.
acts as the decision of the Regional Court of Frankfurt only between the parties and not for all genus notes creditors, advises the Association on capital markets specialized BSZ investor protection law firm CLLB holders of participation certificates of the Euro Hypo AG to become active now. In addition, the ruling strengthens the view of lawyers CLLB the legal position of the holders of Trust Preferred Securities. These should now act
lawyer and BSZ eV trust lawyer Breu the firm recommends investors CLLB lawyers from a law firm specializing in capital markets lawyers advise and let their interest claims as well as the reversal of the reduction in the reimbursement claim in court to argue. Legal protection insurance, investors should also be examined by lawyers if their legal expenses insurance, legal costs for such action takes over.
concerned investors may join the BSZ ® registered association interest group "Euro Hypo AG.
Photo: Lawyer and BSZ eV trust lawyer Nicola Breu
Photo: Lawyer and BSZ eV trust lawyer Nicola Breu
BSZ ® federation for social and civil rights consciousness eV
Lagerstr. 49
64807
Phone: 06071-9816810
Internet: http://www.fachanwalt-hotline.eu
Direct link to the registration form for a BSZ ® investor protection community: http://www.fachanwalt-hotline
This text is the contribution from 4.3.2011 again. Possible future changes of the facts are not considered.
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