CMS Hasche Sigle successfully represents Stora Enso Deutschland GmbH on appeal in actions for damages

Frankfurt/Main – Düsseldorf Higher Regional Court has dismissed in full the appeal relating to actions for damages brought by former minority shareholders against Stora Enso Deutschland GmbH (formerly Feldmühle Nobel AG). Some minority shareholders had appealed against Düsseldorf Regional Court's dismissal of their lawsuit for further compensation in addition to the settlement to which they were entitled. The background to the action is Düsseldorf Higher Regional Court's definitive ruling in 2008. That ruling was based on special administrative proceedings to examine settlement claims held by the minority shareholders in the light of a controlling agreement concluded in 1991.

A team from CMS Hasche Sigle led by lead partner Dr Jochen Schlotter successfully advised and represented Stora Enso Deutschland GmbH before Düsseldorf Higher Regional Court (and also in the initial case before Düsseldorf Regional Court).

The Stora Enso Group is a global Swedish-Finnish manufacturer of newsprint, paper for books and other uses as well as packaging material and wood products. Total sales in the 2010 financial year exceeded EUR 10 billion. The Group has more than 27,000 employees worldwide.

In special administrative proceedings, minority shareholders can have the amount of compensation and settlement payments in relation to structural changes (such as a conversion or the conclusion of an affiliation agreement) reviewed by a court after the measure has been implemented.

A controlling agreement is a type of contract under which a public limited company (AG), a partnership limited by shares (KGaA) or a private limited company (GmbH) subordinates management of its activities to another company.

Advisers CMS Hasche Sigle:

Dr Jochen Schlotter, Corporate
Bernhard Maierhofer, Corporate