An acclaimed German company from the DAX stock market index has suddenly met its end.
In June 2020, Wirecard AG requested Munich Local Court to open insolvency proceedings.
The company’s share price crashed on the news. The events have affected the company’s
investors, contractual parties and clients. Its employees, their employment with the company,
and their shares, financial means and data have also been affected. Wirecard’s insolvency
raises many questions with regard to its liquidation.
If you are a financial institution, you may become the target of law firms representing investors. This may be the case, for example, if an investor acquired a share or an investment certificate on the basis of advice given by you, or if the acquisition of shares or certificates was part of an asset management strategy. We will help you defend yourself against claims by customers.
If you are an institutional investor, for instance an insurance company or a local authority, you may be entitled to claim damages from persons that acted in Wirecard’s name, or from auditing firms or financial supervisors. We will help you assert your rights in all these cases.
If you are a contractual party or an employee of Wirecard AG, or of another company of the Wirecard group, you might be directly affected by the insolvency. Our experienced team of lawyers will help you in enforcing your claims.
Banks advising clients, savings banks, and financial services companiesInstitutional investors in Wirecard AGContractual parties of Wirecard AG and of other affiliated companiesEmployees of Wirecard AG and of other affiliated companies
Registration of claims Creditors are required to register their claims against Wirecard with the insolvency administrator by October 26, 2020 the latest. Important: This is…
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In addition and due to the circumstances of the insolvency proceedings, the insolvency administrator announced to cut 730 jobs at Wirecard. In the event of…
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Moreover, the respective classification resulted in the possibility for BaFin employees to trade in Wirecard AG shares. The legal assessment by BaFin contradicts the opinion…
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In these companies, which previously had no works councils, management has now been requested to invite employees to election meetings without delay. It must therefore…
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According to these reports, employees of the financial supervisory authority Bafin increasingly traded in securities of the payment provider in the months prior to the…
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Due to this classification, the BaFin only dealt with Wirecard AG within the scope of securities supervision and delegated audits of the balance sheets in…
read more Cornelius Bartenbach Haesemann & Partner
Partnerschaft von Rechtsanwälten mbB
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Cornelius Bartenbach Haesemann & Partner
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VON SCHULTZ Rechtsanwälte
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