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“We are now taking legal action,”

Lawyers sue debt cut
12th March 2012 12:08

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Berlin – The average debt of Greece with its private creditors will have legal consequences. A Hamburg law firm said on Monday they have for 110 owners of Greece founded bonds a protective community

and prepare actions for damages against the state banks and Greece before. On the
one hand, customers are advised by the banks wrong, told lawyer Matthias Gröpper. On the other hand-like Greece , because of forced conversion by the German- Greek would exclude investment protection agreements. This agreement protects German investors against political risks explicitly. The firm “Gröpper Kopke” already working with American, British and Greek lawyers together. ( More about )

On Saturday, the board member of the community by protecting investors, Daniel Bauer, announced lawsuits. “We are now taking legal action,” he told Germany radio. The goal is that at least for small investors regained 100 percent of their claims.

Greece package ready on Wednesday

The finance ministers of the Euro Group will on Wednesday during a telephone conference, the second, 130 billion dollar, Greece complete support package for good. There was nothing left to prove, all conditions are met, it said. On Monday evening, advised the 17 finance ministers in Brussels on the € group of crisis-stricken Greece , it is also Finance Minister Evangelos Venizelos, the Greek report to his colleagues. Finalizes the will on Wednesday.

On Friday, the finance minister € 30 billion euros of debt were released as a support section. Greece itself had fulfilled his end of February, conditions for the granting of the second aid package. (Reuters, 03/12/2012)

http://derstandard.at/1331207062832/In-Vorbereitung-Anwaelte-klagen-gegen-Schuldenschnitt

German investors reject the guards decided by the Greek government forcibly cut debt. The Protection of Investors (SDK) said on Friday in Munich, it will consider legal action against the parties involved. The project of the Greek government, the holders of bonds now make with the help of retroactively introduced CACs forced to participate in the debt section, violates basic legal principles. The SdK expects a long legal dispute, which could go up to the European Court.

“We are now taking legal action,” the board member Daniel Bauer said on Saturday in Germany radio. The goal is that at least for small investors regained 100 percent of their claims. “There are examples in other countries, which have shown that there were mainly hedge funds of court.”

Angry would be the mandatory exchange, especially for investors who have the papers that are still due this year. They had at least a chance that the bonds are redeemed at 100 percent. That’s over now. Now they have bonds with a maturity of 30 years, partly with an interest rate, “which is below the current market level and per