Stuttgart (dpa / lsw) – Several investors in the bankrupt housing cooperative Eventus have initially failed with a claim for damages against the cooperative testing association VBW. This was announced by the district court of Stuttgart on Wednesday. There is no causal connection between a possibly deficient start-up examination and the decision of the investors to invest money in the housing association. The audit reports were never published. A total of 15 small investors complained.
Among other things, the VBW was responsible for the foundation audit of the cooperative. The plaintiffs accused the association of violating reporting and due diligence obligations. He had always rejected breaches of duty. The housing cooperative had filed for bankruptcy in autumn 2017. The founder and former boss was sentenced to seven years in prison for fraud. According to the court, he had collected around 9.4 million euros for real estate projects from members over the years with false promises, although there was no functioning business model behind the cooperative.
The decision is not yet final. The plaintiffs are expected to appeal to the Stuttgart Higher Regional Court. Among other things, the insolvency administrator of Eventus is also suing the test association for damages before the regional court.
