HSH Nordbank’s Supervisory Board responds to legal opinion
Hamburg/Kiel, November 10, 2009 - At an extraordinary meeting held today the Supervisory Board of HSH Nordbank AG discussed the legal opinion it had commissioned from the law firm of Freshfields Bruckhaus Deringer LLP. After an in depth-discussion the Supervisory Board revoked the appointments of Messrs. Jochen Friedrich and Peter Rieck as members of the Management Board of HSH Nordbank AG, effective the end of November 10, 2009.
The Supervisory Board Chairman Hilmar Kopper has been asked to inform these gentlemen of their dismissal and to conclude a termination agreement with each of them or terminate their employment contracts for good cause with immediate effect.
Breaches of duty were also found to have been committed by the former members of the Management Board Hartmut Strauß and Eckehard Dettinger-Klemm. In these cases the Supervisory Board will also decide on lodging claims for damages after studying them in detail.
The Supervisory Board has also authorized the law firm to make the legal opinion available to the respective chairmen of the Parliamentary Commissions of Enquiry of the state parliaments of Hamburg and Schleswig-Holstein.
Furthermore, the legal opinion is also being made available to the Hamburg public prosecutor’s office.
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
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