EQS-News

DF Deutsche Forfait Group obtains preliminary injunction against Varengold Bank AG

EQS-News: DF Deutsche Forfait AG / Key word(s): Legal Matter DF Deutsche Forfait Group obtains preliminary injunction against Varengold Bank AG 19.12.2023 / 11:10 CET/CEST The issuer is solely responsible for the content of this announcement. DF Deutsche Forfait Group obtains preliminary injunction against Varengold Bank AG

• Hamburg Region Court rules in favour of Deutsche Forfait GmbH
• The credit balance of EUR 5,5 million blocked since June 14, 2023 must be paid out

Cologne / Hamburg, December 19, 2023 - Deutsche Forfait GmbH is a subsidiary of DF Deutsche Forfait AG (ISIN: DE000A2AA204) and obtained a preliminary injunction against Varengold Bank AG before the Hamburg Regional Court on December 15, 2023. The Regional Court ordered Varengold Bank AG to transfer the retained credit balance of Deutsche Forfait GmbH in the amount of EUR 5.5 million.

Deutsche Forfait GmbH is a customer of Varengold Bank AG. In order to finance important projects, Deutsche Forfait GmbH has instructed Varengold Bank AG to transfer its credit balance of approximately EUR 5.5 million to other German banks. The transfer orders of Deutsche Forfait GmbH have not yet been executed by Varengold Bank AG.

Varengold Bank AG justifies the non-execution of the transfer orders with the fact that the special audit of the Federal Financial Supervisory Authority (BaFin) at Varengold Bank AG prevents a transfer. On June 27, 2023, BaFin appointed a special auditor to examine some of Varengold Bank AG's current transactions. According to BaFin, the background to this special audit is serious compliance deficits at Varengold Bank AG.

Deutsche Forfait GmbH has initiated legal proceedings before the Hamburg Regional Court by way of interim legal protection in order to obtain the transfer of its credit balance. The Regional Court has now granted this application and ordered Varengold Bank AG to transfer Deutsche Forfait GmbH's credit balance of EUR 5.5 million in accordance with the order.

The Regional Court came to the conclusion that, based on the current file situation, the special audit by BaFin at Varengold Bank AG did not prevent the execution of the payment order by Deutsche Forfait GmbH. In the opinion of the Hamburg Regional Court, Deutsche Forfait GmbH had not violated any legal provisions on the basis of the facts of the case.