Plaintiff representatives see tailwind for lawsuits against EY FT, September 30, 2020, Olaf Storbeck | With reference to an addendum to the KPMG report of April 27, 2020, the “Financial Times” reports that an EY-internal whistleblower had already warned of irregularities at WIRECARD in 2016. Specifically, the warnings dealt with a company acquisition in India and […]
Typical errors in a revocation instruction that lead to a “eternal” right of objection
We check if your instruction is incorrect, free of charge for you! You just have to send us your corresponding documents. But you may also like to know upfront, which typical errors occur in revocation instructions. Of course, the list cannot be conclusive.
1. Violation against the requirement of clear design
The instruction needs to be obvious for the policyholder, therefore it needs to be clearly designed. It must not get lost in the continuous text. Its highlighting can be done through bigger Typography, bold print, different color or framing.
2. Issues with regard to the formal requirements of the notice of objection by the policyholder
It was mandatory to point out to the policyholder, in which Form the revocation needed to be filed. For contracts, which were concluded before 31 July 2001, it was mandatory to file the objection in written form. For contracts as of 1 August 2001, the text format was valid. In many cases, the instruction was missing such a reference or the text format was required instead of the written form.
3. Incorrect information about the period of objection
The period of objection for contracts concluded until 7 December 2004, accounted for 14 days. From 8 December 2004, it accounted for 30 days.
4. Incorrect information at the beginning of the period of objection.
The period of the objection of 14 or 30 days starts with the reception of the insurance policies, the general conditions of the insurance and all the other consumer information. This needs to be pointed out to the policyholder. In many cases, this applicable term of these triggering documents is missing.
5. Missing or false terms of deadline
The period of objection is respected by the timely submission of the declaration of objection. The “timely” receipt of the statement by the insurer is not decisive for the deadline. This must also be pointed out in the instruction, for example by “the timely dispatch is sufficient”.
How to reach us
Schirp & Partner Rechtsanwälte mbB
Leipziger Platz 9
10117 Berlin, Germany
Phone: +49 (0)30 – 327 617 0
Fax: +49 (0)30 – 327 617 17
Legal Advisory Label
Please take note that we can not answer consultatively here. If you happen to request that anyways, you may give us full power of attorney. For that, simply download this form, sign it and return it to us.
Der Aktionsbund Aktiver Anlegerschutz e.V. vertritt bereits zahlreiche Anleger des im Jahr 2008 von der KGAL GmbH & Co. KG emittierten Waldfonds. Wirtschaftlich sieht es für die Gesellschafter des Fonds schlecht aus. Die versprochenen Ausschüttungen blieben bisher aus! Der AAA hat den Fonds analysiert und empfiehlt dringend zu handeln! Quelle: Aktionsbund
WIRECARD AG files for Insolvency – Legal Action against EY is the best Way Out for aggrieved Shareholders, Bondholders and Derivative holders
Few minutes ago, Wirecard AG filed for insolvency. This means that Wirecard AG is likely to be eliminated as an opponent for legal proceedings. Damaged investors, however, have the option of relying on Wirecard’s annual auditor, Ernst & Young Wirtschaftsprüfungsgesellschaft (EY). Information on the Lawsuit against Ernst & Young » The law firms Schirp & Partner and attorney […]
Berlin-based law firms Schirp & Partner and Dr. Marc Liebscher have filed their first lawsuits against EY…
German Property Group GmbH (formerly Dolphin Capital GmbH) has recently sent a letter to its investors urging them to provide details of their investment. It also threatens to file for bankruptcy if they do not agree to restructuring the company, i.e. asking the investors for a moratorium and selling it to a consortium. We strongly advise our clients […]
The price of the WIRECARD share is still under pressure and so far the company has not been able to dispel the allegations beyond a reasonable doubt…