Vienna/Eid. Lawsuits of harmed investors regarding Immofinanz are pending with a total value of 308 million Euro. They concern the ‘major’ procedure regarding fraud, infidelity and market manipulation. In this criminal procedure the public prosecutor Vienna is still investigating, but judgements have already been rendered regarding investors claims. The latest judgement was pronounced this Thursday by the Commercial Court of Vienna, which is not legally binding yet. The Supreme Court had remanded the causa to the competent Commercial Court before.

One of the investors, represented by law firm Kerres | Partners, achieved that Constantia Privatbank (CPB, now known as Aviso Zeta Bank) has to pay compensation of almost 4 million Euro plus 4 % interest for the damage caused by Immofinanz- and Immoeast shares since 2007. The Court bases its verdict on the lack of diligence of former CPB in consulting the investor.

Published on January 26, 2013 in the daily newspaper “Die Presse“.