Stock Investing Zone

Southern finance AG comes under heavy attack. Erfurt, may 18, 2011. The RAD South finance AG in the news emerges again. Since November of last year investors waiting for overdue interest payments, the Prosecutor obviously investigating insolvency procrastination and the courts take numerous lawsuits by investors and former employees. Who has invested in South financial, takes nerve as wire ropes. Every day are with us”calls from angry and disappointed investors of South finance AG, the Managing Director of the German consumer protection ring e.V. confirmed in Erfurt, Claudia Lunderstedt Georgi. I can understand that, because investors have been waiting for November last year on overdue interest payments.

The company promises every now and then on his homepage, that interest rates will soon ‘ be paid that happened but always still not. Now is obviously also the Prosecutor become skeptical and took up investigations against Board Franz Nerb due to insolvency procrastination.” Complaints from South financial investors take daily to what really the South finance AG is going on, nobody really know probably. The interest payments are due semi-annually; the payment that had been due November 1, 2010, but is still pending. Apparently the company with their backs to the wall stands. Bearer bonds, which were offered from April 2008 to a par value of 100 euros offered on sale currently for 14 euros. “Former employees drag to court how bad a company actually ordered it, you can see clearly that that former employees must sue for their outstanding salaries in court”, the DVS Director thinks.

And in fact a maid and chauffeur of South CFO Nerb complained before the Labour Court. A quality appointment the plaintiffs and their lawyers waited in vain a representative of South financial or the Board personally. The Luxembourg-born chauffeur and interpreter of Nerbs got from his former boss Although always still not his outstanding wages of 9,000 euros, but an SMS stating that it was a serious mistake, a claim to submit! Statements which speak a clear language.