Silvia Quandt Capital Markets (Switzerland) AG is again fully operational by the judgment of the Commercial Court

Press Release from 25.01.2013

The former Board of Silvia Quandt Capital Markets (Switzerland) AG, Joachim Paech was removed from the end of September 2012 after an extraordinary general meeting of his Office, he tried with all unfair means to integrate related agents in order to block the company and damage it.

This suggestion of Joachim Paech was put to an end by the Commercial Court of the Canton of Zurich. By judgment of 17 January 2013, his complaint was dismissed. In the complaint, he alleged, inter alia, that the performed extraordinary general meeting on 28 September is void, because not the entire share capital of the Company was present. Supposedly the Zurich trustee Victor Sauter would hold 248 of the 250 shares. He was however not informed and could not attend. The defendant, represented by a new member Anna Wohlthat could prove convincingly that 100 percent of the share capital was present and the assertion of Mr. Paech and the Trustee Victor Sauter, that they would hold shares in the Silvia Quandt Capital Markets (Switzerland) AG is inaccurate.

The original founding shareholder Viktor Sauter says against the commercial register of the Canton of Zurich that he prefers to hand over the shares held by him in the commercial register of the Silvia Quandt & Cie. AG (Frankfurt am Main). The entire share capital at that time was also made completely from the Frankfurt company. Mr Paech has also proceed in the past that he is one hundred percent owner of Silvia Quandt & Cie. AG. In the damage of the company, Joachim Paech and Viktor Sauter as agents were aware of the falsehood alleged to the court.

The other objections of Joachim Paech, the court recognized as baseless and absolutely untrue. Joachim Paech and Victor Sauter have set up clearly false claims in their claims.

The defendant could not dispel the court that he was idle at the Board of Directors. The court also recognized this point as a completely unsubstantiated position by Joachim.

The unlawfully and demonstrably with false numbers of the former Board Joachim Paech and his assistants, the Trustee Victor Sauter, initiated bankruptcy proceedings were canceled by judgment of the Supreme Court of the Canton of Zurich on 16.01.2013 and deleted the entry in the commercial register.

Following the decision of the Commercial Court, the new member Anna Wohlthat can proceed with the restructuring and reorganization of the now renamed Private Capital Markets business.
 
For more information:
Bernd Metzler
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Tel. +41 79 5022999