German investors in Greek government bonds have sued the Hellenic Republic in German courts over losses suffered as a result of the restructuring of their bonds. The Greek debt restructuring which triggered this litigation took place in March 2012. Greek bonds were exchanged for new bonds with lower principal, lower interest rates and longer maturity, resulting in a haircut for investors. A large majority of investors accepted the swap, but some investors did not, and went to court. Continue reading
The plaintiffs in Bleier v. Bundesrepublik Deutschland claim that they are hold pre- WWII German bonds, on which Germany ceased making repayments in 1933.