Our successes in the field of capital investment law

So far, we have successfully filed more than thousand lawsuits against persons in the background, initiators and encouragers of dubious capital investments. This refers to the dubious forms of investment of silent partnership, of shares of stock noted before the official hours or without quotation at the stock exchange as well as to derivates of securities. Above all, this concerns bearer bonds, by which innumerable investors were led to believe in high yields and a secure provision for their old age retirement.

In this context, we have always followed the guideline: Won legal proceedings are good for the lawyer, but they may cost the client much money, if - despite successful proceedings - the opponent is not solvent any more. It is, therefore, often better for the client to reach an amicable out-of-court settlement. Thus, as a rule, the clients will get their money faster (also see Note 1).

Since minor investors frequently lose in mass claims, and agents are often verging on insolvency after the first proceedings, we made it a matter of principle to solve the cases represented by us, by way of compromise.

Regarding the negotiations of terms of composition with banks, we had in part to sign a declaration of obligation to preserve secrecy with the financing bank. Our disadvantage: afterwards, we cannot always give the names of the two parties.

Quantity of mass claims represented by PWB: 8,200
Amount of total loss represented by PWB: 70,018,162 €

Falk-Fonds:

Represented mandates: 998
Total amount of represented losses: 8.075.500 €

More about Falk-Fonds …

After tough negotiations, we could achieve for a large part of our clients economically reasonable agreements with the banks financing the funds, in that the involved banks renounced up to 70 % of the loan and returned the remaining loans under highly improved conditions.

With regard to the financing banks, we always succeeded in achieving our reversed transaction claims according to the door-to-door selling revocation law or to the Civil Code. Furthermore, it was possible to confront the financing banks with objections, e.g., claims for compensation against the agent due to lack of information. Finally, our teams of experts could in many cases successfully have recourse to the stockbrokers or to the societies being behind them.

BFI Bank AG:

Represented mandates: 81
Total amount of represented losses: 1.867.121 €

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For our clients we achieved out-of-court settlements with the liquidator of BFI Bank AG, Mr Jörg Derra. In the context of the compositions or settlements the liquidator was obliged either to grant our clients a discount on the existing loan debt or to remit the respective full amount of the loan against transfer of the fund investment. Altogether, we succeeded in persuading the liquidator, Mr Derra, to renounce claims amounting to 1.052.778,15 € in favour of our clients. With regard to fund investments of BFI Bank AG, we reached a complete reversed transaction, especially of the funds “Euro Top Plus”, Albert Fonds Nr. 1 KG” and “SP Sachwert Plus Fonds Nr. 7 up to 10 KG”, as a rule. Concerning the participation financed by BFI Bank AG in the so-called “EAGLE Fonds” we mostly achieved with the liquidator - in the course of the legal proceedings - exceptionally favourable compromises for our clients.

WGS-Fonds:

Represented mandates: 40
Total amount of represented losses: 1.081.075 €

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We cancelled for our clients the WGS fund investments Nos. 27, 32, 34, 35, 36, 37, 38 and 40 by way of settlement. In detail, we could achieve for the investors represented by us, step by step, a loan reduction of more than 70 % of the outstanding loan amount, up to a total exemption from loan liabilities against the transfer of the shares to a society named by the financing bank. A part of the clients’ engagement could be cancelled completely.

Futura Finanzvermittlung / Frankonia

Represented mandates: 200
Total amount of represented losses: 6.000.000 €

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Impelled by the aggressive agents’ group of Futura Finanzvermittlung / Frankonia, around Michael Turgut, our clients invested in several companies, with which they signed so-called “pension savings agreements”. In about 100 cases, we could exempt our clients from the financial responsibility of these pension savings agreements. The engagements were completely cancelled in all cases represented by us. Furthermore, the holding companies Frankonia, CSA, Deltoton have so far reimbursed about 30 % of the investment sum. The Futura Finanz GmbH & Co. KG trading company contributed to these reimbursements with 20 % of the investments carried out so that the investors represented by us got about 50 % of the invested capital reimbursed.

SMP AG/GmbH

Represented mandates: 1.900
Total amount of represented losses: 3.060.000 €

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In the insolvency proceedings concerning the assets of SMP AG/GmbH, we represented more than 500 investors against the liquidator Mr Kübler. For our clients, we imposed claims for compensation to the amount of 3.060.000,00 € against SMP AG/GmbH by ascertainment and recognition as claims in the rank according to § 38 of the Insolvency Rules, against the liquidator Mr Kübler. This means for the investors represented by us that in future they will participate in the distribution of dividends from the trust estate (see Note 2).

SWD – Sächsischer Wirtschaftsdienst Dresden

Represented mandates: 300
Total amount of represented losses: 1.684.429 €

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For the 111 affected investors odf SWD, represented by us, we succeeded in reaching 115 attachment orders regarding the material property of the responsible persons of Sächsischer Wirtschaftsdienst, Jonny Franke and others, amounting to a total of 1.6 million Euros altogether.

Venturion AG/Curax AG

Represented mandates: 1023
Total amount of represented losses: 6.607.500 €

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We also fought successfully against the main responsible person of Venturion and Curax AG, Eggendorf, obtaining a total of 300 final verdicts for our clients. By means of the actions filed by us, we imposed tortious claims for compensation against Mr Eggendorf.

Phoenix Kapitaldienst

Represented mandates: 1500
Total amount of represented losses: 32.000.000 €

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After a tenacious struggle against the Entschädigungseinrichtung Deutscher Wertpapierhandelsunternehmen – EDW (Institution for indemnity of German Stockbroking Companies) we could impose as yet for a part of the investors represented by us, that EDW paid out to our clients the respective indemnities of up to 20.000 € per person.

Securenta AG/Göttinger Gruppe

Represented mandates: 1968
Total amount of represented losses: 8.642.537 €

More about Securenta AG/Göttinger Gruppe …

So far, we have represented more than 751 clients in the insolvency proceedings regarding the assets of Securenta AG/Göttinger Gruppe. For our clients we could achieve along with other lawyer’s offices that the liquidator Peter Knöpfel, a criminal in our opinion, was removed. As a result, our clients’ claims could now be filed in the rank according to § 38 of Insolvency Rules so as to be included in the list of creditors. Moreover, this means that we can compensate for our clients expected claims on the part of the new liquidator Rolf Rattunde with claims for damages. Furthermore, the clients represented by us can (in our opinion) hope for a considerable quote in the insolvency proceedings, contrary to the false warnings from some consumer advice centres, as became apparent (see Note 3).

Berufsträgerhaftung (professional liability)

Represented mandates: 200 (Liability mandates – see Note 4)
Total amount of represented losses: about 1.000.000 €

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The liability of auditors, tax consultants and lawyers due to faulty advices refers to professional liability.

Altogether we achieved since 2003 in more than 200 cases very successful liability mandates against lawyers, accountants and tax consultants.

Some remarks:

1 Big lawyer’s offices, which boast about having successfully fought several cases in court, did not always achieve particularly much for their clients in mass claims. Even, if big lawyer’s offices often represent many thousands of clients: make them show you their success records, which not only consist of in individual judgements.

2 Those investors, who were kept from being represented by us in the insolvency proceedings (estimated 1100 creditors), by well-aimed reporting against consumers’ interests on the part of the self-appointed consumer advocate Prof. Schwintowsky and the (in our opinion) alleged consumer advocate and lawyer Mr Strube, Consumer Advice Centre of North Rhine-Westphalia, will go away empty-handed. We advise these creditors to have their claims for damages against Prof. Schwintowsky and lawyer Strube analyzed by us.

3 For investors of Securenta AG/Göttinger Gruppe who became misguided by partially hair-raising, false information and reports of the consumer advice centres, this means that they have to renounce to a quote in the insolvency proceedings. That is why the liquidator will not reimburse them their money. We rather suppose that the liquidator Mr Rattunde will ask them to pay an excessive sum once again.

4 All these cases listed do not overlap with those liability cases against professionals within the context of the mass damages mentioned before.