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Erste Abwicklungsanstalt: With judgement dated 29 September 2021, the Regional Court of Frankfurt/Main has ordered Erste Abwicklungsanstalt AöR (EAA) to pay to Portigon AG approx. EUR 1 bn.

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Erste Abwicklungsanstalt / Key word(s): Miscellaneous
Erste Abwicklungsanstalt: With judgement dated 29 September 2021, the Regional Court of Frankfurt/Main has ordered Erste Abwicklungsanstalt AöR (EAA) to pay to Portigon AG approx. EUR 1 bn.

29-Sep-2021 / 11:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
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With judgement dated 29 September 2021, the Regional Court of Frankfurt/Main has ordered Erste Abwicklungsanstalt AöR (EAA) to pay to Portigon AG approx. EUR 1 bn.

In 2012 and based on the decision of the European Commission, EAA has, in a financial markets stabilization transaction, taken over risk assets from Portigon AG (former WestLB AG). Portigon AG is currently being held liable by the tax authorities to repay refunded/counted tax credits in connection with suspected dividend arbitrage tradings in an amount of approx. EUR 1 bn. Portigon AG claims from EAA to be held harmless from such tax claims. EAA is convinced that there is no legal basis for such claim. Therefore, EAA will appeal against the decision of the Regional Court of Frankfurt/Main.

29-Sep-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Erste Abwicklungsanstalt

Friedrichstraße 84

40217 Düsseldorf

Germany

Phone:

0211 91345 780

Fax:

0211 91345 789

E-mail:

info@aa1.de

Internet:

www.aa1.de

Listed:

Regulated Market in Dusseldorf; Regulated Unofficial Market in Frankfurt, Stuttgart; Luxembourg Stock Exchange

EQS News ID:

1236748


 

End of Announcement

DGAP News Service

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