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A bank group and four asset-management companies were ordered to take part in Germany’s first trial over controversial Cum-Ex tax deals, risking a potential seizure of any funds obtained via the transactions.
The Bonn Regional Court, which is scheduled to open the trial of two former London investment bankers on Sept. 4, issued the ruling on Monday, according to a statement emailed by the tribunal.
The names of the targeted companies, made associated parties in the trial, weren’t disclosed. The case covers as much as 447.5 million euros ($497 million) of losses to government coffers.
To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net
To contact the editors responsible for this story: Anthony Aarons at aaarons@bloomberg.net, Peter Chapman
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