by Attorney-at-law Martin Arendts, M.B.L.-HSG
In the appeal proceedings with regard to the exclusion of the minority shareholders at Süd-Chemie AG, Munich, in favor of Clariant AG, which was registered at the end of 2011, the District Court of Munich I (Landgericht München I) had increased the cash compensation amount by EUR 7.04 to EUR 132.30 per share (+ 5.62%), see: https://spruchverfahren.blogspot.de/2017/05/squeeze-out-bei-der-sud-chemie-ag.html.
Clariant AG, as well as several former minority shareholders filed appeals against this decision at first instance. The Higher Regional Court of Munich (Oberlandesgericht München), which will decide on the complaints, has now submitted a timetable for the second-instance proceedings: Accordingly, the complaints can be (supplementary) justified by 15 January 2018. The parties may respond by 15 April 2018. The joint representative (of former minority shareholders that did not file for a judicial review) may submit his observations by 15 June 2016. A final decision will therefore be taken no earlier than the second half of 2018.
The increment amount (plus interest at the rate of 5 percentage points above the base rate) will be paid only after a final decision.
OLG München, file no. 31 Wx 340/17
LG München I, decision of 28 April 2017, file no. 5 HK O 26513/11
SdK e.V. et al. ./. Clariant AG
87 Applicants
joint representative: Attorney-at-law Dr. Andreas Wirth, 80331 Munich
In the appeal proceedings with regard to the exclusion of the minority shareholders at Süd-Chemie AG, Munich, in favor of Clariant AG, which was registered at the end of 2011, the District Court of Munich I (Landgericht München I) had increased the cash compensation amount by EUR 7.04 to EUR 132.30 per share (+ 5.62%), see: https://spruchverfahren.blogspot.de/2017/05/squeeze-out-bei-der-sud-chemie-ag.html.
Clariant AG, as well as several former minority shareholders filed appeals against this decision at first instance. The Higher Regional Court of Munich (Oberlandesgericht München), which will decide on the complaints, has now submitted a timetable for the second-instance proceedings: Accordingly, the complaints can be (supplementary) justified by 15 January 2018. The parties may respond by 15 April 2018. The joint representative (of former minority shareholders that did not file for a judicial review) may submit his observations by 15 June 2016. A final decision will therefore be taken no earlier than the second half of 2018.
The increment amount (plus interest at the rate of 5 percentage points above the base rate) will be paid only after a final decision.
OLG München, file no. 31 Wx 340/17
LG München I, decision of 28 April 2017, file no. 5 HK O 26513/11
SdK e.V. et al. ./. Clariant AG
87 Applicants
joint representative: Attorney-at-law Dr. Andreas Wirth, 80331 Munich
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