WilmerHale inquiry report was subject of in-depth consultations at meeting of the Bank’s Supervisory Board
Hamburg/Kiel , October 21, 2010 - The inquiry report by the law firm WilmerHale in connection with the dismissal of the former member of the HSH Nordbank Management Board, Frank Roth, was subject of in-depth consultations at the General Committee and at today’s meeting of the Bank’s Supervisory Board.
The inquiry report by the law firm WilmerHale in connection with the dismissal of the former member of the HSH Nordbank Management Board, Frank Roth, was subject of in-depth consultations at the General Committee and at today’s meeting of the Bank’s Supervisory Board. The following was conjointly declared:
• There is no evidence whatsoever to support the accusations and allegations mentioned in the so-called “minutes” on the discussion held on 29 July 2010. Besides this, these
statements have been denied and revoked on several occasions.
• Some inconsistencies in connection with the appearance of photocopies of parts of individual documents could not be finally clarified in spite of the thorough work done by
• Neither the General Committee nor the Supervisory Board is able to find any culpable conduct on the part of employees or the Chairman of the Management Board.
• The audit by KPMG of account statements and payments for security services to Prevent AG has not resulted in any objections.
Copies of the inquiry reports have been made available to the public prosecutor’s offices in Hamburg, Kiel and New York as well as to BaFin. The Bank has not yet received the report on the audit commissioned by BaFin.
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