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  7. Wirecard Insolvency: German Federal Court of Justice Confirms Subordination of Shareholder Damages Claims to All Creditor Claims in Landmark Insolvency Ruling
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Wirecard Insolvency: German Federal Court of Justice Confirms Subordination of Shareholder Damages Claims to All Creditor Claims in Landmark Insolvency Ruling

Apr 1 2026

This article by Dr Lars Westpfahl, Professor Dr Patrick Schroeder, Sonja Vidal, Susanne Hoerrmann, Dr Tom Dittmar and Dr Victor Aly discusses the German Federal Court of Justice's landmark insolvency ruling confirming the subordination of shareholder damages claims in 2025.

This article first appeared in Volume 23, Issue 2 of International Corporate Rescue and is reprinted with the permission of Chase Cambria Publishing - www.chasecambria.com

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Wirecard Insolvency German Federal Court of Justice Confirms Subordination of Shareholder Damages Claims to All Creditor Claims in Landmark Insolvency Ruling
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Team

Hamburg

Lars Westpfahl

Partner
Hamburg

Hans-Patrick Schroeder

Partner
Hamburg

Sonja Vidal

Principal Associate
Munich

Susanne Hörrmann

Senior Knowledge Lawyer
Hamburg

Tom Dittmar

Principal Associate
Hamburg

Victor Aly

Associate
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