Wirecard: Hearing date in model case proceedings at the Bavarian Higher Regional Court

On Novem­ber 14, 2025, the second hear­ing in the spe­ci­men pro­ceed­ings took place. We rep­res­en­ted the spe­ci­men plaintiff and you as a co-respondent.

The hear­ing was dom­in­ated by many form­al­it­ies. How­ever, we are pleased to re­port that, on bal­ance, we have made sig­ni­fic­ant progress.

As a re­minder of the cur­rent status of the pro­ceed­ings: In its par­tial model de­cision of 28 Feb­ru­ary 2025, the Bav­arian Higher Re­gional Court set the course for EY to be re­leased from the time-​consuming KapMuG pro­ceed­ings. We have al­ways been in fa­vour of this and want to act­ively pur­sue this path. We be­lieve that by re­sum­ing se­lec­ted legal pro­ceed­ings against EY at the Mu­nich Re­gional Court, we will be able to build up the ne­ces­sary pres­sure much more quickly to reach a set­tle­ment. We want to bring these pro­ceed­ings to a sat­is­fact­ory con­clu­sion for all plaintiffs, in­ter­veners and re­gis­trants in 2026.

In this sense, last Friday’s hear­ing was thor­oughly con­struct­ive. The Bav­arian Higher Re­gional Court will not deal with the ap­plic­a­tions against EY for the time be­ing, as long as there is no cla­ri­fic­a­tion from the Fed­eral Court of Justice. How­ever, the ap­plic­a­tions against all other model de­fend­ants will be pur­sued. And that can be very use­ful. This is be­cause there are massive ‘over­laps’ in the find­ings to be made. So even if, form­ally speak­ing, there will be no fur­ther ac­tion against EY for the time be­ing – due to the block­ades caused by other law firms – we are still mak­ing pro­gress in the matter.

A side note: there was a mo­tion to dis­miss the model plaintiff rep­res­en­ted by us, filed by the Tilp law firm. This was not fur­ther ad­dressed in the oral hearing.

What is the con­clu­sion? The model case re­mains a dif­fi­cult and cum­ber­some pro­ced­ure. We ex­pressly ac­know­ledge that the com­pet­ent sen­ate of the Bav­arian Higher Re­gional Court is do­ing its best to make pro­gress un­der the given cir­cum­stances. We sup­port this as far as pos­sible. Push­ing ahead with the cla­ri­fic­a­tion against the other parties to the pro­ceed­ings will also yield use­ful find­ings in re­la­tion to EY. Re­gard­less of this, we are work­ing on fur­ther courses of ac­tion against EY.

We have also pos­ted our we­binar from Novem­ber 24, 2025 on­line on the topic of Wirecard.