As previously reported, Holger Härter, Porsche’s CFO at the time of the attempted Volkswagen take-over, is facing criminal charges for his conduct in the transaction. The first trial is coming to a close now. The Stuttgart public prosecutor’s office (Staatsanwaltschaft) accused Härter and members of his finance team of having misrepresented the exposure under the option agreements to BNP Parisbas when they negotiated Porsche’s credit line and hence obtained credit by deception (Kreditbetrug; Sec. 265b German Criminal Code, Strafgesetzbuch). This is a criminal offence, even if the bank did not suffer any credit – merely having put the bank at risk suffices.
Month: May 2013
Forensic Maths
The Economist’s Prospero Blog features an interview on forensic maths – Coralie Colmez, the author of “Math on Trial: How Numbers Get Used and Abused in the Courtroom” speaks about the use of maths and statistics in a legal context. Most of her examples are drawn from criminal law, but the issues she raises are relevant to everyone who uses maths and statistics in a courtroom or in settlement discussions. Read More
Kokoschka and Cologne: City Council Votes in Favour of Restitution
A follow-up on my earlier post on the claim the heirs of art dealer Alfred Flechtheim to return Oskar Kokoschka’s portrait of Tilla Durieux and the recommendation of the Limbach Commission to return the painting: On April 30, 2013, the Cologne City Council has voted to follow the recommendation. At the same time, the City of Cologne will discuss with the heirs whether there are options to keep “Tilla Durieux” in Cologne, including a possible acquisition.