10.10.2018 16:53 Uhr in Wirtschaft und Finanzen
Cointed files bankruptcy petition
Tyrolean crypto company Cointed on the verge of collapse? At the end of September 2018, Cointed filed for bankruptcy. CLLB represents injured customersBerlin/Munich 10.10.18: For a long time there was speculation, anxiety and hope. Now it's official:
The Tyrolean crypto currency company Cointed has filed an application for the opening of bankruptcy proceedings before the Innsbruck Regional Court.
This is a further blow for investors in Cointed, who had invested around 85 million euros in the company at the start-up ICO at the beginning of the year.
The bankruptcy petition was filed on 28.09.18. However, as the Austrian Standard reported with reference to information provided by Andreas Stutter, Vice-President of the Innsbruck Regional Court, the decision to open bankruptcy proceedings is to be delayed until the second half of October as not all the necessary documents have been submitted and the advance on costs has not been paid.
In July 2018 the CEO of Cointed, Mr. Wolfgang Thaler, spoke of new investors in China and comprehensive restructuring concepts to save the company. These rescue attempts now seem to have finally failed.
For months now, the Austrian Economic and Corruption Prosecutor's Office has been investigating the Cointed company on suspicion of serious commercial fraud, the operation of a chain letter and pyramid game and the violation of the prospectus requirement in connection with the start-up's ICO.
After executing a search warrant at the company's Vienna location, the investigations of the public prosecutor's office were expanded to include suspicions of embezzlement. Customer money, which was actually intended to be exchanged for Bitcoins, is said to have disappeared. The investigation is continuing.
For investors and customers alike, this development at Cointed means that they will have to endure protracted bankruptcy proceedings in order to enforce at least some of their claims.
CLLB Rechtsanwälte represents numerous customers and investors of Cointed and helps these to intersperse their requirements against the enterprise and the responsible persons. CLLB Rechtsanwälte will also continue to represent the interests of investors and customers in the pending bankruptcy proceedings.
Affected investors and customers should have their legal claims examined by a specialist lawyer for capital market law. The CLLB law firm supports affected investors in asserting their claims.
CLLB Attorneys at Law stands for outstanding expertise in the field of civil procedure law. The development and successful implementation of a target-oriented process strategy is a decisive factor not only in large-scale proceedings involving several hundred injured investors. Even complex individual proceedings, particularly those with an international dimension, can only be conducted optimally through the use of specific experience and detailed knowledge of facts and law. Our attorneys are therefore very familiar with the functioning of financial products in regulated and unregulated markets, have a proven track record as capital market specialists and have many years of relevant legal experience before courts throughout Germany, including more than ten years in some cases. The law firm CLLB Rechtsanwälte was founded in 2004 in Munich and was able to establish itself after only a short time through numerous successes in sensational proceedings. In addition to the four founding partners István Cocron, Steffen Liebl, Dr. Henning Leitz and Franz Braun, whose initials stand for the "CLLB" brand, Alexander Kainz (2008) and Thomas Sittner (2017) are two further partners responsible for the success of the client. Twelve CLLB lawyers now represent the legal interests of their clients. They are predominantly active on the plaintiff's side and assert claims for damages on their behalf. That is, in a nutshell: We can sue.