Current information on the insolvency proceedings Current information on the insolvency proceedings The Local Court of Munich – Insolvency Court – opened insolvency proceedings over the assets of EUR 500 million bond in a ruling dated August 25, 2020 (Ref. 1542 IN 1308/20). On this website, you will find the court decisions, information on the […]

Wirecard. Wirecard AG is an insolvent German Payment processor and financial services provider, whose former CEO, COO, two board members, and other executives have been arrested or otherwise implicated in criminal proceedings. In June 2020 the company announced that €1.9 billion in cash was missing. It owed €3.2 billion in debt.

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The Wirecard scandal is a series of accounting scandals that resulted in the insolvency of Wirecard, a German payment processor and financial services provider that was part of the DAX index. Wirecard AG is a payment processor headquartered in Munich, Germany.The company offers its customers electronic payment transaction services and risk management, as well as the issuing and processing of ...

Wirecard filed for protection from creditors through insolvency proceedings last year after admitting that 1.9 billion euros ($2.3 billion) supposedly held in trust accounts in the Philippines ...

Wirecard filed for insolvency on June 25 th 2020. The act is the culmination of a long fraud and a failure of regulatory mechanisms to uphold financial ethics. The fraud came to light when Wirecard was unable to justify €1.9 billion in its accounts.

Wirecard filed for insolvency in June 2020 after admitting that €1.9 billion ($2.3 billion) supposedly held in trust accounts didn't exist. The onetime up-and-coming digital payment giant was ...