Leipold Rechtsanwaltskanzlei

GREEN CITY AG MUNICH - INSOLVENCY APPLICATION SHOCKS INVESTORS

DGAP-Media / 26.01.2022 / 09:23 Lawyer Leipold represents first clients in insolvency proceedings. Green City AG from Munich filed for insolvency today. Affected investors fear for 250 million euros. The company only convened an extraordinary general meeting on January 20, 2022. The planned restructuring failed today. The company was unable to find a new investor and had to file for insolvency this evening due to impending insolvency. The company's stocks plummeted afterwards. At the end of 2021, there were already the first rumors that Green City was experiencing significant financial difficulties. At this point in time, the first investors in the Leipold law firm based in Bavaria and Hamburg had already registered. Green City AG and the group formed around it sees itself as an expert in the holistic development, construction, financing and operation of renewable energy systems in Europe. Green City AG in Munich has existed since 2005. The majority shareholder is the Munich association Grenn City e.V., with around 2000 members. According to its own statements, the company placed around EUR 250 million with investors. That money is now in serious jeopardy. Already on December 17, 2021, the company announced the loss of half of the share capital. Since then, industry experts have been warned. Since mid-December 2021, the first inquiries from investors have been coming in to the Leipold law firm, which specializes in banking and capital market law. The affected and worried investors had their claims checked. After today's insolvency of the company, the law firm was commissioned to represent the company in the insolvency proceedings. In addition to shares in the company, the following securities are affected. Green City Anniversary Bond / Tranche B Green City Bond II Green City Bond 2022 Green City Energy Kraftwerkspark II GmbH & Co. KG Green City Energy Kraftwerkspark III GmbH & Co. KG Green City Solarimpuls I GmbH & Co. KG Lawyer and specialist lawyer for banking and capital market law Michael Leipold and his team have specialized in representing investors in failed investments since 2003. The law firm is currently strongly represented in the Wirecard scandal, in which assets have already been successfully secured for around 500 clients by means of attachment proceedings, in the Orthi Group fraud case or in the scandal surrounding the terminated premium savings contracts of German savings banks. Affected investors can obtain an initial assessment from our experts free of charge at any time. If legal protection insurance is available, a cover request will be made free of charge. The law firm specializes in representing investors in such insolvency proceedings. The law firm is based in Bavaria and Hamburg and represents clients nationally and internationally. End of Media Release Issuer: Leipold Rechtsanwaltskanzlei Key word(s): Law 26.01.2022 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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