German Property Group GmbH (formerly Dolphin Capital GmbH) has recently sent a letter to its investors urging them to provide details of their investment. It also threatens to file for bankruptcy if they do not agree to restructuring the company, i.e. asking the investors for a moratorium and selling it to a consortium. We strongly advise our clients […]
Since 1994 our law firm Schirp & Partner successfully advise our clients regarding all questions associated with capital investment law, banking law, company law, insolvency law and tax law. We have been able to take credit for numerous accomplishments.
Out-of-court settlement for policyholders of ten major insurers.
Successfully implemented a restructuring concept for bondholders of René Lezard, as a joint representative of the bondholders.
René Lezard – Bond: Law firm Schirp & Partner elected joint representative of the bondholders.
Out-of-court settlements can be concluded for 160 investors in the funds Real Estate Development India I GmbH & Co. KG and Real Estate Development India II GmbH & Co. KG (two funds of SachsenFonds and Deutsche Fonds Holding).
Out-of-court settlements were closed for investors in a forest fund.
In the negotiations of the Hannover Leasing Media Fund, we concluded out-of-court settlements for several hundred investors represented by us.
In KGAL / ALCAS Media Fund proceedings against the prospectus holders, we achieved out-of-court settlements for all of the approximately 500 investors we represent.
2009 / 2010
In 2009 and 2010, we participated in settlement agreements with Commerzbank AG and Hypo Vereinsbank for the more than 300 investors in VIP Media Funds 3 and 4, so that our clients received up to 109% of their capital contribution plus reimbursement.
We are negotiating with the Virchow Association for investors who have been brokered in GbR-Fund by the NAV Wirtschaftsdienst für Ärzte.
For a further 4,000 prospectus claimants in the fund of the Bankgesellschaft, we conclude settlement agreements between 60% and 99.6% of the investment amount, with which – with a few exceptions – investors not only suffered no capital loss but were able to exit the funds at a profit.
We successfully conclude the restructuring negotiations of a large fund of the Banghard Group which was at risk to become insolvent.
We have set first legal precedents in prospectus liability claims to the funds of the Bankgesellschaft.
We are submitting about 1,000 further prospectus liability claims in the so-called “sub-fund” of the Bankgesellschaft Berlin.
We are filing prospectus liability claims against DII (Becker & Kries Group).
We enforce investor claims against the Investoren- und Treuhand Beratungsgesellschaft mbH (IT) in various real estate funds amounting to millions.
We negotiate settlement offers for approx. 55.000 investors of the Bankgesellschaft Berlin in the amount of 1,8 billion Euros.
A coalition of investors in the funds of Bankgesellschaft Berlin and submission of approx. 7,000 prospectus liability claims.
For the investors of the WIR funds, we negotiate a settlement that releases investors completely from personal liability.
We represent 17 fund companies of the Ärzte-Treuhand-Group in the development and negotiation of restructuring agreements. Where refinancing between investors and banks was negotiated and signed by mid-2004, banks usually made waivers of capital, while investors raised between 15% and 40% of the original subscribed capital. Until this point in a whole series of cases, at which the case law of the BGH turned clearly against the investors, a restructuring could not yet be adopted. Often, this was because some investors trusted in the legal advice of third parties, who promised them complete indemnity and therefore refused to reorganize. However, if in these cases – years later and following the failure of various procedural approaches – reorganizations were finally agreed upon, investors had to make significantly higher payments.
2002 – 2007
In between 2002 and 2007, we were able to enforce claims for compensation for numerous investors of the real estate funds Welse-Galerie 1, Welse-Galerie 2 and City-Center Rathenow against the investors Treuhand, the then entrepreneurial vehicle of the distributor Mario Ohoven. In this context, we significantly influenced the jurisprudence on the obligation of disclosure of internal commissions and obtained the relevant key decisions of the Federal Court of Justice. When an attempt was made to quietly move the Investor Treuhand (renamed “BERINTREG”) towards insolvency, we prevented it by raising our own fund’s bill to cover the advance on costs. We are currently a member of the creditors’ committee and assist the insolvency administrator in getting funds back into the assets. The aim of the exercise: We want to procure substance of enforcement for those of our clients who have not yet been disbursed.
We were able to help one of the largest providers of open-ended real estate funds to design a marketable and legally compliant offer. And we were able to support a young and ambitious sales force through product analysis and the placement of reliable market partners.
The partners Wolfgang Schirp, Tibet Neusel, and Peter Apel, together with experts from the commercial sector, are founding the Aktionsbund Aktiver Anlegerschutz e.V., in order to better bundle investor interests and thereby strengthen their position in relation to their defendants. In this way, we were able to i.a. help investors several times to reach quorum and a majority at the fund level and to exchange the controversial initiators in the fund management.
With a family active since 1936 in the US real estate market, we found the company G & W Swig Burris Equities, which specializes in high-quality investment products in the US real estate sector for German subscribers.
We are processing the Cinerenta funds and representing more than 400 investors in saving their investment. So far, we have been able to assert claims against the trustee at first and second instance; however, most of the proceedings are still pending. Here, the final decision, in particular also on the personal liability of the relevant injuring party, will probably only pass with the decision of the BGH.
We are forming a strategic alliance of foreign partners, which will take over the properties of a series of closed real estate funds of a German initiator.
We advise fund companies with subsidies in housing construction in Berlin, which have hit troubled water through the expiry of public funding and changes in tax laws, on how to economically rehabilitate. In many cases, we were able to achieve settlement agreements.
For one of the largest German distributors, we were able to solve two problems with products that had hit troubled waters by bad product partners.
1999 – 2002
With our support of numerous investment companies between 1999 and 2002, the old management was replaced by new management, which took better account of the interests of the shareholders. Dr. Hanne Good Night Inn Hotel I and II KG, the Seniorenresidenzen in Magdeburg Am Krökentor I and II, the Seniorenresidenz Naumburg, the LmB Leben mit Betreuung Seniorenresidenzen in Berlin GmbH & Co. KG and numerous housing funds are serving as examples.
We participate in the restructuring of investment companies in the area ofsubsidized housing construction.
1998 – 2002
From 1998 to 2002, we restructured the financing of numerous fund companies in response to changed economic conditions.
We were involved in structuring and executing a fund that established the headquarters of a major utility company.
1997 – 2000
From 1997 to 2000, we were significantly involved in the reconditioning of the empire of Berlin-based initiator Dr. Ing. Jürgen Hanne. We were able to enforce multi-million claims against the initiator and the distributors Hainzl and Banghard. In this context, we obtained important court judgments favorable to investors right up to the Federal Court of Justice. In numerous funds of this initiator, we were also involved in the exchange of management and the installation of new and serious management.
We structured two closed-end real estate funds, which build retirement homes in West Germany.
As lead attorneys, we were able to organize the financing of a major infrastructure project for a German federal state. In addition, we enforced claims of damaged loan subscriber against a major German bank.
1994 – 1995
In these two years, we were able to help damaged investors in a snowball system, with which investors in the entire federal territory had been sold participations in leisure facilities and campgrounds (Mundus GmbH & Co. KG). We were able to obtain deductions from the financing banks for the subscribers involved and were instrumental in enforcing the criminal liability of the initiator.
We were actively involved in detecting and destructing a snowball system that had damaged several thousand investors in southern German-Swiss territory (alleged trade in “international bank guarantees”, LANDRO GmbH). We were able to enforce seven-digit compensation for our clients.
Die POC Management GmbH, vertreten durch Edmund Kockartz und Klaus Christochowitz, fordert aktuell bei den Anlegern der sechs POC-Fonds, die an der DEL beteiligt sind, die Kosten für die Steuererklärungen der Anleger in Kanada für die Jahre 2019 und 2020. Bei 12.940 Beteiligungen sind dies insgesamt rd. 1 Mio. CAD. Es handelt sich dabei ausdrücklich nicht […]
Die aktuelle Ausgabe unseres Anlegerschutzbriefes wird unseren Mitgliedern wunschgemäß per E-Mail oder Post zugesandt und behandelt folgende Themen: behandelt folgende Themen: • Vorwort und Überblick über die aktuellen Entwicklungen • Gute und schlechte Neuigkeiten bei ECI • Elbfonds: Probleme in den anhängigen Frankfurter Klageverfahren – aber der Insolvenzverwalter hilft • Rückabwicklung von Lebensversicherungen – (fast) […]
Auf seiner Internetseite “Investmentcheck” veröffentlichte Herr Stefan Loipfinger am 25.02.2020 einen Artikel über verschiedene ConRendit-Investments und deren Muttergesellschaft, der Solvium AG. Nachfolgend ein kurzer Ausschnitt: “Es gibt zwei Hauptrisiken bei strukturierten Investments: Das Markt- und das Managementrisiko. Bei illiquiden Assets steigt die Bedeutung des Managementrisikos massiv an. Deshalb ist gerade hier der Track-Record unverzichtbar. Was […]
The price of the WIRECARD share is still under pressure and so far the company has not been able to dispel the allegations beyond a reasonable doubt…
Am 16. Dezember 2019 hat Frau Dr. Susanne Schmidt-Morsbach die Mitglieder des Aktionsbund Aktiver Anlegerschutz e.V. (AAA) auf der Hauptversammlung der Deutsche Oel und Gas S. A. in Luxemburg vertreten. Das Vermögen der DOGSA besteht im Wesentlichen aus einer Beteiligung an der Cornucopia Oil & Gas, LLC und einer Beteiligung an der Deutsche Oel & Gas AG, […]