Lehman victim WINS damages claim against the private bank of Delbruck before the Landgericht Hamburg Hamburg, 02.02.2011 – the Hamburg district court has convicted the private bank of Delbruck Bethmann Maffei the 20.01.2011, to reimburse the amount set out in a certificate of Lehman to a customer. On the recommendation of the Bank, the customer had purchased a Lehman certificate for EUR 18,000 in July 2008. The Bank offered the Lehman certificate as an alternative to a certificate of Commerzbank to investors was already invested in that. She failed but, the customers on the issuer risk due to the specific market environment, on the special risks involved in Lehman, as well as the recently lowered rating point out of Lehman. With the bankruptcy of Lehman in September 2008, the certificate was worthless. Because of this advice error the customer sued the private bank of Delbruck before the Landgericht Hamburg (AZ. 330 O 219/10) for damages. The District Court of Hamburg has now decided that the Bank has violated its obligations to the customer.
The Bank would have to specifically inform the customer on the situation at Lehman because the risk of bankruptcy at Lehman had risen due to the situation. This note was not unnecessary, even if the customers were a speculative investors who had a long-term and comprehensive experience. Lawyer Henning Stoffregen, representing bank customers against the Delbruck, explains this: Now the law in Hamburg at the expense of Delbruck has strengthened. Delbruck has recommended its customers certificates of Lehman in the summer of 2008, on a large scale without to indicate by Lehman or the lowered rating on the difficult market environment. This is a breach of its obligations to its customers. The judgment of the Landgericht Hamburg makes it clear that also the speculative, experienced investors has a right by his bank comprehensively and correctly about the chances and risks of an investment to be informed.” The Landgericht Hamburg has further refuted Delbruck’s argument in the procedure, the customer had purchased the certificate even if proper reconnaissance (Causality).
Attorney fabric rain explains further: Each fall a victim must be regarded as individually because of the issue of causality. However, the judgment of the Landgericht Hamburg represents another important milestone to enforce investor protection. It can be assumed just not that investors with a true representation of the risks would have acquired Lehman certificates. Even if the verdict is not yet final, the prospects of further lawsuits by victims of Lehman have increased considerably. However aggrieved investors who have made no claims, should bear in mind that threatens the validity of claims at the end of the year. Claims can no longer enforced with admission of the limitation period, even if they exist.” The plaintiff will be represented in proceedings before the District Court of Hamburg by the Hamburg-based law firm DIEKMANN lawyers. The reasons for judgment have published under.
