Tag: Volkswagen

Porsche/Volkswagen Takeover: Sentence for Former Porsche CFO Upheld by Federal Supreme Court

As part of our coverage of the Porsche/Volkswagen saga, we also try to keep track of the criminal proceedings it triggered. Today’s FAZ (print only) reports that in April 2014, the Federal Supreme Court (Bundesgerichtshof) upheld the sentence against Holger Härter, the former Porsche CFO, for credit deception (Kreditbetrug). Read More

Hedge Fund Litigation: Porsche’s Victory in Braunschweig

Here ist an update on the epic litigation battle that follows from Porsche’s failed take over of Volkswagen. Hedge funds try to recover losses suffered at the time and sue Porsche for billions of damages. The court cases have taken them on a Tour of Germany. Today, it was the Braunschweig District Court (Landgericht) which was scheduled to hand down decisions in three of the actions pending against Porsche. Read More

Porsche Plaintiffs’ Tour de Germany: Last Exit Braunschweig?

The hedge funds seeking billions of Euros in damages from Porsche’s failed Volkswagen take-over still have not found a court willing to assume jurisdicton to hear their matter: Having started out in Stuttgart, or even in New York, they have been on a trip that looked as if it had ended in Hannover, when the Braunschweig District Court (Landgericht) transferred the matter to Hannover District Court on the basis that the plantiffs relied on competition law theories. Read More

Volkswagen, Porsche and the Hedge Funds: It’s Hannover After All

Here’s the latest leg in the tour of Germany on which the Porsche claimants have embarked: The Braunschweig District Court (Landgericht) dealt with the claimants’ application to move the matter to Hannover today, and granted the motion. You may recall that for some claimants, this will be the third court dealing with the matter, and it looks like a safe bet that it will not be the last. Read More