Investors in the former C.S. Funds May Still Get Justice - Previous Judgement Annulled
The attention of investors in the former C.S. Funds is drawn to the recent announcement by AKRO investment company (which manages the former C.S. Funds) that on 5 October 2022, at an oral hearing in the matter of the lawsuits filed for confusion against the judgment of the District Court for Prague 6 dated 24 May 2018, the judgement was anulled. Specifically, at this hearing, the court decided to annul the judgment of the District Court for Prague 6 dated 05/24/2018, file no. 8 C 445/2014-456 in connection with the judgment of the Municipal Court in Prague dated 27 November 2018 File no. 30 Co 366/2018-524 in its entirety, thereby complying with the proposal of AKRO investment company, as.
Regular readers of our blog will recall AKRO's disbelief at the confusing, unfair and perverse decision of the District Court for Prague 6 dated 24 May 2018, when previously obtained compensation had to be returned along with CZK 700m of statutory interest. So surreal was the process and outcome, we even parodied the court with the fictional court that appears in Lewis Carroll's Alice in Wonderland.
The annullment of the May 2018 judgement is potentially a positive development for investors in the former C.S. Fonds though there can be no guarantee of ultimate success in winning compensation for investors.
AKRO investiční společnost,a.s.
This article does not constitute investment advice or a recommendation to buy or sell any security.