Thousands of investors in the Envion AG can look forward, after a Berlin court took a decision in favour of the founder of the company and in the interests of the Trado GmbH has a restraining order against the square Capital GmbH and Sycamore GmbH adopted. The court ruled last Thursday that the capital raising and the subsequent mixing of the shares of the founders and the resulting loss of the majority of property as an illegal breach of contract. The decision protects the interests of more than 30,000 investors from Envion, by penalizing the square of CEO Woestmann and Sycamore Co-CEOs Thomas van Aubel and Jutta von falkenhausen for every sale of equity or the use of company funds, with a maximum 6-month jail sentence for each violation of the requirements.
The allegations of the founder of Envion, according to which the CEO took only a short time after the $100 million Dollar Blockbuster ICO in an illegal way, the control Envion, were confirmed by the court. . Woestmann has stopped the activities of the company, which has led to months-long loss of revenue for the company and dividend losses for investors.
During the court proceedings, the judge referred to the illegal procurement of capital and Transfer of shares newly created shares in the Sycamore GmbH as a “collusive behavior of the two managing Directors [Woestmann and van Aubel]” with intentional violation of the civil code (§ 826 of the German Civil code, BGB). The contract between square Capital and the founder of a company Trado GmbH, says expressly the avoidance of the majority stake of the founder, was confirmed by the decision of the court.
Woestmann published on the day before the court hearing, a press release in which he admitted accidentally that the Acquisition of control of the company was construct on a fabricated Law. This came about because he called as a reason for the Takeover rumor, according to the founders unauthorized Token had created. These rumors came about in February, the Acquisition of control of the company, however, according to the publicly visible documents already on 21. January.
The 3-judge Panel held a heavy criticism of Mr, van Aubel, especially in relation to the false allegations against a Trado’s Michael Luckow and the founders. Various allegations of Woestmann, who started only after the filing of the indictment in may of the illegally generated Token were rejected by the court. Instead, the judge to the plaintiff for damages granted, resulting in Sycamore square Capital for the of Trado incurred in court – and the court were made, fees will be liable.
The judgment protects the capital of investors, to sell by square Capital and Sycamore prohibits shares in the company in any Form.
Trado’s Michael Luckow explained how important this decision is:
“Further actions will be necessary for the company to get the shares back to the plaintiffs. The judgment on Thursday confirmed the legal basis for a number of other broader court cases, including the restoration of our rightful majority stake. We are very pleased that our arguments have been accepted by the court, while Woestmanns were ignored fictional accusations.“
The defendants will have the opportunity to challenge the decision of appeal, the judges have decided this already twice in favor of Trado in the decision of Thursday and a preliminary injunction, which was made in the beginning of the month. The judicial loss, and the confirmation that Mr has acted illegally, in order to bring Envion under his control, forcing him to van Aubel and von falkenhausen, the Finance legal defense for the preservation of its illegally acquired shares. The founder of Trado, and Envion have vowed the fight for the return of the property to continue to operate the company in accordance with the agreements with the investors.
What exactly is Trado GmbH?
The Trado GmbH holds the shares of the founders at the Envion AG, a company that has developed a disruptive data center concept for the crypto-Mining-market: a System of container-based mobile units that can be connected directly to the power source, either Solar-photovoltaic-Park, or in a power plant is mounted and which thus offer the flexibility required for today’s energy markets.
Information about the founders of Trado and Envion, you can find here.