The Tübingen district court is examining whether Sharewood Switzerland AG is jointly responsible for the illegal exploitation of the rainforest in the Brazilian state of Mato Grosso
With a current ruling dated February 1, 2021, the Tübingen Regional Court issued a remarkable note in the proceedings of a German investor against the company Sharewood Switzerland AG.
Shock for investors: illegal overexploitation of the rainforest instead of green investment?
The court correctly points out that the state of Mato Grosso, Brazil, is one of the hardest hit by illegal overexploitation of the rainforest. In Germany, Sharewood Switzerland AG offers capital investors to invest in the purchase of shares in tree plantations in the affected Brazilian state. It aggressively advertises these systems as sustainable, even as an opportunity to make a contribution to climate and rainforest protection. The investor would invest in green values and could see his wealth growing.
Regional court Tübingen doubts the legality of the plantations
The Tübingen Regional Court expressed considerable doubts about this representation. It fears that the plantations could be cultivated on illegally cleared land. It referred to the reports of the past few years in various media, including “Deutschlandfunk” and “Spiegel”. It will therefore check whether the areas on which the trees stand were created by overexploitation of the protected nature. This would not only be a violation of Brazilian environmental law, but also a reason for a German court to assume immorality according to § 138 BGB.
Legal consequence: immorality
The consequence would be that Sharewood AG would have to repay all investors immediately. The court asks the defendant Sharewood AG to disclose who is the owner of the plantations, since when the wood has been used economically there and what happened before the wood was used on the respective property.
No BaFin approval and total loss risk
Sharewood AG sells investments in trees in the Brazilian state of Mato Grosso. Investors are promised a safe and sustainable investment in “green values”. You can not only increase your assets, but also protect the climate and rainforest, according to the advertising promise of Sharewood AG. The reality could be very different. In addition: The Federal Financial Supervisory Authority has prohibited Sharewood AG from selling in Germany. There is no approval from BaFin at all, but this is mandatory by law for this offer of investments. It is not the first time that the company’s founder Möckli has been thwarted by the financial supervisory authority. In the past, the Swiss financial supervisory authority forbade him to conduct similar business practices in order to protect consumers.
Investors must now prevent the total loss
Sharewood AG investors must fear the complete loss of their capital. Anyone who has still invested money at Sharewood AG should take action now. Lawyers who specialize in banking and capital markets law can review claims for reversal and their successful enforcement.
Johannes Goetz, attorney at law, already successfully represents a large number of aggrieved sharewood investors in and out of court. The regional court in Leipzig has recently ruled in favor of an investor represented by lawyer Johannes Goetz and sentenced Sharewood AG to repay more than € 55,000. Lawyer Johannes Goetz is available for a free, immediate initial assessment.
–
