At the end of the year it is always nice to report on successes. Therefore, at the end of 2020, we are reporting on two further positive judgments that were won for investors in the Thomas Lloyd Investor Association before the Chamber for Commercial Matters of the Stuttgart Regional Court.
CT Infrastructure Holding Ltd. condemned to settlement
In a decision by the Chamber for Commercial Matters, which had been preceded by an atypical silent participation in DKM Global Opportunities, the LG Stuttgart condemned CT Infrastructure Holding Ltd. as their legal successor for the settlement of the participation on December 31, 2018.
The court stated in its decision as follows:
1.) The merger of the original holding company, DKM 01, with the defendant would have required the consent of the plaintiff as an atypical silent partner in accordance with Section 5 (2) and (3) asGV. The plaintiff’s undisputed lack of consent leads to the fact that it was allowed to terminate the participation extraordinarily. […]
2.) After effective termination, the claimant is therefore entitled to payment of her severance payment according to Section 5 (4) sentence 4 in conjunction with Section 15 asGV. This must be determined in accordance with Section 5 (4) sentence 4 asGV without taking into account the measure requiring approval, i.e. with the reference date December 31, 2018. DKM 01 was merged on this date and no longer exists as such as of December 31, 2018 at midnight; however, this is irrelevant for determining the value of the compensation credit.
The defendant can appeal against the decision. It remains to be seen with excitement whether and, if so, when information will be provided.
CT Infrastructure Holding Ltd. sentenced to payment
In a further decision, the same chamber for commercial matters condemned CT Infrastructure Holding Ltd. as the legal successor of Thomas Lloyd Investments GmbH (Vienna) for the payment of 14,320.80 euros plus interest of 5 percentage points above the base rate since 03/03/2020.
In its decision, the Stuttgart Regional Court granted the plaintiff an extraordinary right of termination effective February 17, 2020. The court justified this by stating that the plaintiff had adequately demonstrated that no equivalent rights had been granted to him when the investment company was converted.
The court therefore saw a claim to repayment of the investment amount of EUR 14,320.80 as given. The claim arises either from Section 6 No. 4 of the profit participation rights conditions or from a point of view of damages.
The decision is not yet final because the defendant has appealed against it.
Evaluation of the judgments by AdvoAdvice
Attorney Dr. Sven Tintemann, who won the judgments for the plaintiff investors, was pleased with the outcome of the proceedings. His comment on the successes in the first instance: “During the hearing, which took place by video conference in accordance with Section 128 a of the German Code of Civil Procedure, the Stuttgart Regional Court took great pains to grasp the facts and to listen to all the arguments of the parties. The decisions are well founded and should therefore, from my point of view, also exist in the appeal body. “
The law firm AdvoAdvice represents numerous investors in legal proceedings against CT Infrastructure Holding Ltd. The judgments of the LG Stuttgart join a number of other positive judgments in which investors were awarded repayment claims by the courts.
AdvoAdvice stands with lawyer Dr. Sven Tintemann will continue to be happy to provide all advice seekers with fair legal advice in 2021.