30 March 2013

Gross negligence: "Argumentation of insurers is often questionable"

Christian Becker in the German weekly Wirtschaftswoche 14/2013 on insurers' reduction of payment in case of gross negligence

Since 2008, insurers are allowed to reduce payment if a policyholder causes an insured event by gross negligence. The reduction has to be commensurate with the severity of the fault of the policyholder.

The full interview and an English translation are available upon request.


31 July 2012

Wilhelm advises Smart Holding on acquisition of Ukrainian Bank Forum

The law firm Wilhelm advised Ukrainian investment group Smart Holding on the purchase of Public Joint Stock Company (PJSC) Bank Forum from Commerzbank AG.

A sale and purchase agreement regarding Commerzbank’s stake in PJSC Bank Forum of approximately 96 per cent was signed by the contract partners on Monday, 30th July 2012, in Kiev. The transaction is still subject to the approval of the regulatory authorities.

With about 500,000 clients and more than 100 branches, PJSC Bank Forum is one of the largest banks in the Ukraine for private and corporate customers. Commerzbank held the majority stake in the bank since 2008.

Lars Winkler and Dr. Friedrich Isenbart of the Wilhelm practice group Corporate/M&A advised on the drafting and negotiation of the sale and purchase agreement in the Ukraine and Germany in cooperation with the Ukrainian law firm Engarde.