Silvia Quandt Capital Markets (Switzerland) AG
WP Wohlthat & Partner AG, Tägerwillen, announces that 100% subsidiary Silvia Quandt Capital Markets AG, Switzerland, was acquired from Silvia Quandt & Cie. AG, Frankfurt am Main, Germany, on 28.09.2012. Same day, the previous Board of Director, Mr. Joachim Paech, was dismissed with immediate effect for important reasons. Anna Wohlthat was appointed as a new Board Director. The company was renamed Private Capital Markets AG, since there will be no business relationship with the seller and the business model is changed.
The Board has made an own bankruptcy petition for Silvia Quandt Capital Markets (Switzerland) AG, despite knowledge of the sale of the company and its dismissal without legal grounds on 02.10.2012. As a reason, the indebtedness with an interim was cited in a report prepared by the auditor. The legal test of this situation and the activities of the people involved is carried out by a renowned law firm.
The Private Capital Markets AG has however not proven liquidity problems. The new shareholder’s payable accounts were settled. On 05.10.2012, the Company has filed an appeal immediately against the opened bankruptcy proceedings, whereupon the High Court of the Canton of Zurich has initially granted suspensive effect. On 15.10.2012 the registration of bankruptcy has been deleted from the commercial register of Zurich. The Private Capital Markets AG is able to act again since that day and the blockade by the insolvency petition was legally dissolved.
Since the interim report was created from demonstrably false numbers, the Board has decided to comprehensively review the facts, because a company’s adverse action was taken. The Private Capital Markets AG has launched an internal special audit for the period 2006 through 2012. Initial findings of this examination are available. The company expects to have deep insights into the workings of the previous Board of Directors and other service providers. Any possible damage claims will be investigated without reservation.