Why Wirecards share does not fall to Zero - and what is in store for shareholders now

After all, in Spite of the insolvency, Wirecard may feel more than the Dax group. At the time of the next adjustment in September, the stock flies out of the Da

Why Wirecards share does not fall to Zero - and what is in store for shareholders now

After all, in Spite of the insolvency, Wirecard may feel more than the Dax group. At the time of the next adjustment in September, the stock flies out of the Dax. That sounds a little absurd, but so are the rules of the German stock exchange.

Meanwhile, the share arrived at a value of under two euros. She was not yet to Zero and increased in the meantime, even - why not?

Behind these price movements of companies that are actually bankrupt, stuck mostly in the vague hope that there was still something there to save. Maybe the group can still renovate, or perhaps a Investor who accepts him can be found. Driver for movements in the price methods are often messages from the insolvency. Wirecard 1,28 EUR -2,25 (-63,74%) Xetra

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Even if a restructuring or rescue is possible such speculation is highly risky. In the case of the insolvent fashion chain Gerry Weber, the shareholders are in for a rude awakening: initiation of the two investors Robus and White, there was both an issue of new shares as a "capital reduction to Zero". The selling shareholders have been urged in the course of the insolvency from the textile group, without compensation.

As in the case of Wirecard more

In the event that Wirecard is likely still with sharp price movements. It is not said, whether it comes to resolution, a full sale or a restructuring. First of all, the Munich-based lawyer and restructuring expert, Michael Jaffé to create a report. Jaffé could later manage the insolvency, he is considered as a professional for tricky cases.

However, none of the options from the point of view seems to the shareholders promising. In the case of a resolution, investors get only the "fillet pieces" of the group. You buy only the parts you want. The money will flow into the insolvency mass, from the claims of creditors are served. Here is the exciting question, whether there are valuable areas of Wirecard. The shareholders of potential revenue, however, as a rule, nothing to see. Webinar with Dirk Müller: Here, you have to now

invest now you can see which industries and companies are the winners of the crisis. "Mr. Dax" Dirk Müller calls on 3. July, at 19.30 clock in a Webinar of FOCUS Online and Finanzen100 his favorites. Here is your Ticket!

Something larger hopes can make Lenders, such as banks or bond investors. And these, too, are already preparing for the worst case. "The money is gone," says one of the creditor banks, the Reuters news Agency. "In a few years we'll get maybe a couple of Euro, but we have to write off the loan now," so not the Bank.

"Should Wirecard are actually processed, to provide the shareholders with all of your requirements so you are entitled to the number of creditors. And in this series they are pretty far back," said, however, the Frankfurt economic law, Professor Christoph Schalast the "mirror". According to formwork's load in a typical insolvency proceedings is less than ten percent of claims are satisfied. "Because you can roll over quickly, how much there remains for the shareholders left," said the expert.

What happens to the bond?

As the owner of the bond Wirecards (WKN: A2YNQ5) not because it is necessarily better. As a Foreign investor, one has better cards than the shareholders. But, of course, shows that here, too, is extremely doubtful how much is to be paid at the end actually.

Currently, the bond, which runs until the year 2024 is only 18.52 percent of their nominal value. In other words: A Euro debt at Wirecard currently have for 19 cents. Here, too, it would be pure speculation to buy the bond in a view to a refund of 100 percent of the nominal value. Wirecard AG bond v. 19(19/24)Reg.S 20,47 Prz. +0,47 (+2,33%) Stuttgart

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The specialists for "distressed debt" on a regular basis, how about the hedge Fund of Paul Singer. Here it comes at the end, but usually only after a fierce legal conflict as to a profitable payout. In the case of company insolvencies in Germany, the insolvency rate – the share of satisfied claims – predominantly in the single-digit or low double-digit range. Viewed in this way, the bond Wirecards are even to a comparatively high rate.

Stay Wirecard shareholders sit on the damage?

This is not to say, however, that Wirecard investors are forced on your losses, sit, stay and at the end of a "vault light" hold. Since the group and its auditors Manipulation is now accused of, there is a legal way to claim compensation.

the law firm Tilp has brought even before the bankruptcy is already a capital investor sample procedure on the way. In such a method, investors can bundled against Wirecard and may be liable auditor like EY on actions for damages. The firm specializes in such cases and has already initiated similar proceedings against the diesel manipulations at VW and Daimler, or against the insolvent investment company P+R Container.

In the process have registered, according to the firm's already over 12,000 investors. According to Tilp can make all the investors ' claims, whether shareholders, the holder of the bond or even the buyer of derivatives, as long as the transactions between the 10. July 2012 and 25. June 2020 to be carried out. Bernecker exchange - compass orientation for your Depot. Clear. Compact. Competent. (Partner offer) Now for 30 days completely free trial!

If investors get out now more, is not said. Similar to the diesel crisis, the legal reappraisal of the Wirecard will take place-bankruptcy probably years, especially since the auditor, and even Fund, which Wirecards held shares, can be sued by the investors. Which are, in turn, complain then expected to be self-against Wirecard and EY, presumed to be a Professor of law Schalast, compared to the "mirror". "There's a huge lawsuit will go off the carousel," said the expert. Dirk Müller warns of new bubble: "the crazy, irrational purchases," FOCUS Online, Dirk Müller warns of new bubble: "the crazy, irrational purchases"

Update: Berlin in the Wirecard -scandal under pressure from Brussels

According to the alleged criminal activities due billion crash of the Dax group Wirecard device, the Federal government is under pressure from Brussels. The EU-Commission, European financial supervision ESMA. Want to take more of the collapse of the Munich-based payment service provider and possible failures of the regulators under the magnifying glass. To 15. July should be a preliminary investigation report. According to a Letter from the Commission to the ESMA, the German press Agency on Friday that was about it.

The Federal government is alerted and will in turn check if it was on the oversight: "This is a worrying case," said government spokesman Steffen Seibert in Berlin. "And of course it has to be about damage from the financial centre of Germany as a whole to avert." Therefore, weaknesses in the control mechanisms would have to be, "where you are found out, also fixed".

also read:

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  • "A complete Disaster": Under which Desk the Wirecard-bomb explodes?
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  • All of the balance-sheet scandal with Wirecard, you can read here in the Live-Ticker
  • here you can read more about how to speculators the Hertz-share drive. Balance sheet-scandal: shareholders of Wirecard stand in front of the total loss of FOCUS Online balance sheet scandal: shareholders of Wirecard stand in front of the total loss of Cem Özdemir: "Such people is part of the Uniform, stripped, and immediately" FOCUS Online/Wochit Cem Özdemir: "people like the Uniform belongs undressed and instantly"
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Updated Date: 27 June 2020, 04:27

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