German asset management company Deka Investment has taken action, and eyes further steps, to claim damages from the insolvent payment processing company Wirecard, a spokesperson for the company told IPE.

Deka Investment has already notified possible claims for its invested capital in the context of the insolvency proceeding relating to Wirecard’s assets, the spokesperson added.

Asked whether Deka was planning further legal action, the spokesperson said the asset management firm was in “close contact with a law firm” on possible action against other parties in the interests of its investors.

Deka, once a top-10 shareholder, no longer holds a stake in Wirecard, the spokesperson said. The firm claims to be acting in the interests of investors according to the rules of the Capital Investment Code – Kapitalanlagegesetzbuch – and based on the trust investors put in Deka’s ability to manage their assets, it said.

The asset management firm is in regular contact with law firms specialising in damage claims in order to initiate all necessary steps, the spokesperson said. Last year, when the accounting scandal at Wirecard unfolded, Deka added to the noise by asking for the removal of Markus Braun, then chief executive officer who is now in jail.
Claims pile up

Recently, Union Investment has filed a lawsuit to claim damages against Wirecard for losses of €243m. According to reports, claims for damages against Wirecard’s insolvency administrator Michael Jaffé total €14bn.

A court in Munich had appointed Jaffé as insolvency administrator, opening insolvency proceedings on Wirecard’s assets and a further six affiliated companies.

Asset manager DWS had reportedly also filed claims for more than €600m in the Wirecard’s insolvency proceeding.

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