Federal Supreme Court

What does the acknowledgement for aggrieved investors? Munich, 08.02.2012 – today was anticipated by many aggrieved investors and certainly by many lawyers eagerly. Finally the Federal Supreme Court (BGH) in oral proceedings would have to deal today with a lawsuit against the clerical medical. Answers on important legal issues and even a ruling even the firm specializing in investor protection, Cape promised to lawyers in Munich from today. But then there came other than intended: clerical medical took back the revision. A hearing on the clerical medical is not held today before the Federal Supreme Court. The withdrawal of the revision holds for lawyer Thorsten Krause, partner of the law firm Cape lawyers focusing on banking and capital market law, a surprise that gives hope to aggrieved investors of the CMI: “Although the contested judgment had spoken to ‘just’ compensation with regard to the damage resulting from the completion of the funded system of the OLG Dresden, recognized the help request to CMI.

Specifically, this means that clerical medical has accepted to pay the amount promised in the certificate of insurance from the insurance. So far clerical medical was always, arguing that the payouts shown in the insurance policy are only non-binding and the payments should be just as long, as long nor be a capital stock in the insurance”. Although CMI now argues that it would be in the acknowledgement before the BGH is an isolated case, which is not transferable to other cases, the acknowledgement represents a signal in the right direction. In particular with so-called lever models, such as about the EuroPlan or the lex concept pension payouts usually over several decades in the insurance policy were detained. “If now as they consolidate the view formed out already by the OLG Stuttgart, that these representations in the insurance certificates as binding to be, this means a considerable relief for our clients” added Anja Appelt. Attorney for banking and capital market law and partner of the law firm Cape lawyers. “The Federal Court already announced in the press release, which he announced the acceptance of the clerical medical, that in the approximately 30 proceeding pending at the BGH immediately” a date is to be determined for the hearing.