LG Munich confirmed liability, judgment as important signal that regional court Munich I has decided that a stake in three different funds as a private wealth management to look at is, which covered according to the terms of the protection of rights of legal expenses insurance. Not lie in an entrepreneurial activity according to court (file No.: 12 O 8959/11). Ask for land acquisition is not relevant in this context an investor had participates on a recommendation from his bank three wind energy funds in the form of several KG investments as capital investment. Due to multiple circumstances he wanted to take the Bank due to incorrect advice after the funds were not well developed in the liability. The previously requested coverage for the costs of the legal expenses of the investor was rejected on the grounds that investors had been in business due to the involvement of three companies. Further led to the justification of the rejection, that the contribution to be provided by the investors land on which to build the wind turbines would be bought, should be and this would be directly related to the acquisition of land or buildings. This new risk is excluded in the insurance conditions anyway.
LG Munich liability confirmed this was the LG Munchen I different. A commercial activity was not given. The scope of participation requires no accounting or similar measures necessary for a merchant. Also the objection that would land built with the deposit and this building, would not be covered by the debarment. The land would by Beteiligungs KG, the investor had joined the acquired and not built – by himself. Judgment as an important signal approach of insurance shows that time and again the attempt is made, not to meet the existing obligation under the insurance contract.
Although in recent years the exclusion was more and more expanded, fund investors often have a right to reimbursement by their insurance. Do not therefore rely on the information of your legal expenses, that a dispute relating to an investment of the insurance will be taken over. Get advice from a lawyer specialized in this. It is common in our experience, that insurance companies incorrectly quickly reject an assumption of costs compared to its policyholders without legal counsel. We advise you, whether you were wrong advice within the framework of the investment advice and whether this a claim for compensation is available to. With pleasure we take over the obtaining of a certificate of coverage from your insurance company and tell you whether a possible refusal of your insurance company to assume the costs, is legitimate. Nittel Firm specializing in banking law and capital market law your contact Alexander Meyer, lawyer Heidelberg: Hans-Bockler-Strasse 2 A, 69115 Heidelberg phone: 06221 915770 Fax: 06221 9157729 Munich: residential street 25, 80333 Munich Tel.