German Lender Says Investment Co. Broke Shareholder Rules
By Lucia Osborne-Crowley (May 12, 2022, 5:53 PM BST) -- A German bank told the High Court Thursday that the founders of a now-defunct digital real estate investment platform breached the terms of its shareholder agreement when it concealed a second share sale from the lender.
Stuart Hornett of Selborne Chambers, representing Berlin Hyp AG, told High Court Judge Stephen Morris in opening statements of a trial that the founders of BrickVest Ltd. violated the Companies Act 2006 as well as its shareholder agreement and articles of association by failing to act in the interests of minority shareholders, of which the bank is one.
BrickVest's founders, Emmanuel Lumineau and Thomas Schneider,...
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