Frankfurt/Main – In a notice dated 13 May 2020, Germany’s Federal Financial Supervisory Authority (BaFin) ordered Starnberg-based green electricity and gas provider 4hundred GmbH to discontinue and wind up the taking of deposits.
A CMS team specialising in banking regulation and capital market regulation, headed by Andrea München (Partner) and Barbara Bayer (Senior Associate), is representing 4hundred in all legal aspects of the ongoing proceedings against the federal authority.
4hundred was established in January 2017 by Ilona Ludewig and Andrew Mack with the aim of making energy simpler and more honest for all consumers. Permanently low pricing is the provider’s selling point for its green electricity and gas. In 2018, UK energy provider Ovo Energy acquired a majority stake in 4hundred. British power and gas supplier Octopus Energy then acquired all the shares in 4hundred in 2019.
Dr Daniel Voigt, Partner
Andrea München, Partner
Barbara Bayer, Senior Associate, all Banking & Finance