Tag Archives: Breach of duty

Lehmann Brothers – Investors receive warranty certificates due Enlightenment breach damages

The u. a. for the banking competent XI. Civil Division of the Federal Court has dealt in two other procedures so, whether an advisory bank in connection with the recommendation of certificates of the Dutch subsidiary Lehman Brothers Treasury Co. B.V. (Issuer) der US-amerikanischen Lehman Brothers Holdings Inc. (The warranty) is obliged to pay damages. The focus of the decisions on the question, whether an advisory bank in the distribution of “Garantiezertifikaten” must inform unasked about special termination rights of the Issuer. The Federal Court has acknowledged such duty to inform.

In the process XI ZR 480/13 acquired by the plaintiff in November 2007 on the recommendation of an employee of the defendant bank 40 Piece of “Lehman Brothers warranty certificate on five bank title” nominal value of 39.328 €. In May 2008 he acquired on the recommendation of the same employee more 100 Piece Lehman certificates “LB 6 Year CatchUp note on six DAX stocks” nominal value of 100.000 €.

In the process XI ZR 169/13 acquired by the plaintiff in May 2008 on the recommendation of an employee of the same defendant bank “Lehman Brothers shares coupon bonds on six DAX values”, d. h. so-called Basket Certificates, the market value of 33.099 €. In the related product flyer it says u.a. “100% Capital at maturity”. Continue reading Lehmann Brothers – Investors receive warranty certificates due Enlightenment breach damages

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