LATEST NEWS

Global Wind Power wins lawsuit against Fuhrländer

2018-07-20

Indian wind turbine manufacturer Global Wind Power Limited (GWPL) represented by PASCHEN in the proceedings conducted before the District Court of Cologne has won its legal battle with the insolvency administrator of former wind turbine manufacturer Fuhrländer AG, Prof. Dr. Dr. Schmidt. The Cologne court now reversed its judgment by default which was issued last year in favour of Schmidt. The District court initially granted reinstatement to the Indian company, which had only learned they were ordered to pay € 50 Million through the press, before it ultimately dismissed the administrator’s claim.

Lutz Paschen, Senior Partner at PASCHEN, who together with his colleague Carolin Jünemann represented GWPL in the civil proceedings, explained that the insolvency administrator still has the opportunity to appeal. However, the prospects for success with this appeal are extremely low in light of the grounds for the judgement. Thus, the court found that not only in the specific case, the conditions for the alleged claim for damages by the insolvency administrator are not present, but there is reason to believe that the corresponding provision in the licensing agreement already fails on numerous agreements with other licensees in which corresponding wordings were used. In accordance with the strict standards of the GTCB law that will then become applicable, the regulation would be invalid as well.


< Previous article

< all Entrys

TOP TOPICS

REFORM OF AVOIDANCE OF TRANSACTIONS IN INSOLVENCY PROCEEDINGS

In recent years, the highest-court judicature over the supposed contestation of wilfully disadvantageous transactions according to sect...

read more

EVENTS

Prof. Schumann Konferenz Digitales Kreditmanagement

Location:Hotel Freizeit In, Göttingen
Date:2019-09-26
Start:10:00