Kapitalanlegermusterverfahrensgesetz (Capital Market Investors’ Model Proceeding Act), or KapMuG for short, is the closest thing German law has to a class action. In its current form, the Act would have expired on October 30, 2012. Early on, there was consensus that the Act would be extended, and German parliament has now decided to do so, for another eight years, but with some modifications.
During Christmas and the New Year, whilst I was taking a break and stopped blogging, law makers in Berlin remained busy up and until the last business day of the year:
On December 30, 2011, the draft of the revised Kapitalanlegermusterverfahrensgesetz, or KapMuG for short, the Capital Market Investors’ Model Proceeding Act, has been submitted to the Upper Chamber (Bundesrat) of the German Parliament. I had reported previously about the background to the revision of the Act. Continue reading
Kapitalanlegermusterverfahrensgesetz, KapMuG for short, is the closest thing German law has to a class action. It is usually translated as the Capital Market Investors’ Model Proceeding Act. As you gather from the name, it deals with investor claims in capital market matters. Continue reading