Public liability suit: the Heaviest accusations against Bafin: the stirrup-holder of swindlers

The liability suit, received by the regional court in Frankfurt on Thursday night and against the financial Supervisory authority Bafin is, it has with it. From

Public liability suit: the Heaviest accusations against Bafin: the stirrup-holder of swindlers

The liability suit, received by the regional court in Frankfurt on Thursday night and against the financial Supervisory authority Bafin is, it has with it. From a "total failure" in Wirecard scandal is in the application of the law firm Tilp, the speech, the possession of the F. A. Z. in part: "One would simply just have to determine, instead of the stirrup-holder of swindlers." The statements of authorities, chief Felix Hufeld, according to which the supervision was not effective enough to prevent the debacle, to keep the lawyers wrong. "The Bafin would have been able to do against Wirecard something – and you would also have to have to do something," reads the lawsuit.

Marcus Young

editor in the economy.

F. A. Z.

The law firm alleges that the financial supervisors, recklessly legal obligations to inform the market manipulations in the case of Wirecard hurt, and to have the Public and the capital markets one-sided information. "The Bafin has, in our opinion, for many years a gross respect of their statutory tasks and powers of its own investigations, compared with Wirecard AG due to market manipulation, abuse denied, and one-sided against journalists and short sellers is acting, although she knew the public reporting on massive irregularities in the Wirecard AG, exactly," said Andreas Tilp, a name partner of the law firm. Accordingly, the balance sheet would have amounted to at 15. February 2019 can blow.

at the Time, the Bafin initiated an audit of the half-year financial report of Wirecard due to possible violations. From the point of view of Tilp, the Supervisory authority shall be liable, indirectly so to the state, for the transactions with Wirecard-papers from the 18. February 2019 were made. In addition, the firm made the application, before the Oberlandesgericht Frankfurt, a capital investors model proceedings against the Bafin to initiate.

Bafin is of a different view

The view does not want to connect the defendant to the financial authority. We are all the Clues received, dutifully investigated, said in a statement. Public liability claims from investors or customers against the Bafin to be excluded by law – because you have to take the duties and powers "solely in the public interest" is true. Also, the introduction of model proceedings is not possible, writes a authorities spokesperson. The Tilp contends that the defendant called on a liability privilege, if a malpractice has occurred. Regarding the at first glance unusual pattern of action, the law firm, according to the refers to the law of the word: speaks of civil disputes. Such is to Tilps view with the public liability claim.

in mid-may, had submitted to the firm, the first German investor lawsuit against the payment processor before the regional court I of Munich. In the meantime, the claims were extended to the auditor by EY and the former Executive Board member of Wirecard (reference 3 O 5875/20). About a possible pattern of the method, in the investors exchange rate difference, damage notice could not is yet to be decided. At the end of June were registered according to the law firm of 30,000 investors, in a database, since the number of jump is to be increased.

Updated Date: 24 July 2020, 15:20

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