An investor from Thomas Lloyd Investments GmbH (now CT Infrastructure Holding Ltd.) was also able to achieve success in the second instance before the Naumburg Higher Regional Court.
Success before the higher regional court in Naumburg
In the first instance, the Stendal Regional Court sentenced the investment company to repay the investment amount from two participations in profit participation rights, which had been terminated on December 31, 2017. We had already reported on this (to the blog post).
CT Infrastructure Holding Ltd. thereupon appealed. The higher regional court in Naumburg set a date for the hearing on October 28, 2020. Attorney Dr. Tintemann also represented the plaintiff investor in the appeal court.
During the hearing itself, the judges of the 5th Civil Senate kept a low profile and announced a decision on the appeal at the end of the session.
After a telephone call to the OLG Naumburg, the law firm AdvoAdvice was confirmed a slight change in the decision of the first instance and the conviction to pay the plaintiff investor.
The judgment of the Stendal Regional Court was changed by the Naumburg Higher Regional Court in such a way that the defendant was no longer sentenced to repay the investment amount, but to the repayment amount specified by the defendant in the transaction overview for the period from 01/01/2016 to 12/31/2016.
Important success for investor community
For the Thomas Lloyd investor community, this first judgment in the appellate instance is an important and great success, because after several first instance judgments, the obligation to repay CT Infrastructure Holding as the legal successor to Thomas Lloyd Investsments GmbH (Vienna) has now also been confirmed in the first second instance decision .
Another appeal on another matter is due shortly before the Higher Regional Court in Frankfurt am Main. The date for the hearing was set for November 26, 2020.
“According to the decision of the OLG Naumburg, the OLG Frankfurt am Main can only deviate from this if it submits its decision to the Federal Court of Justice to create a uniform case law. In our view, however, this is not to be expected”, comments lawyer and specialist lawyer for banking and capital market law Dr. Sven Tintemann, the numerous investors in lawsuits against CT Infrastructure Holding Ltd. represents.
Photo: AdvoAdvice / Dr. Sven Tintemann
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