The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Bilfinger Supervisory Board To Seek Damages Against Former Executive Board Members

20 February 2018 | Updated 01 January 1970

On February 20, 2018, the Supervisory Board of Bilfinger SE has asserted claims for damages against former members of the Executive Board - this statement is taken verbatim for legal reasons.

At its meeting held on Feb 20, the Supervisory Board of Bilfinger SE resolved to assert claims for damages against former members of the company’s Executive Board. This relates to all former members of the Executive Board in office from 2006 to 2015 but who joined the Executive Board prior to 2015.

The Supervisory Board took this decision on the basis of findings from the investigation it initiated in March 2016.

The former members of the Executive Board are accused of breaches of duty in the implementation of an orderly compliance management system. In the view of the Supervisory Board, some former members of the Executive Board also breached their duties in connection with M&A projects in the past.

According to the current provisional calculation, the amount of damages recoverable by Bilfinger as a result of these breaches is in the low three-digit million euro range. The precise amount of the damage claims and to what extent these can actually be asserted has not yet been determined at this time. There has also been no decision regarding which former members of the Executive Board damage claims should be asserted against and in which specific amount.

The current Executive Board of Bilfinger SE has now initiated an investigation to determine whether any members of the Supervisory Board may have breached their duties in connection with the aforementioned facts.


Picture: The Bilfinger SE flag is fluttering at the news that on February 20, 2018, the Supervisory Board of Bilfinger SE has asserted claims for damages against former members of the Executive Board


Article written by Brian Shillibeer | Published 20 February 2018


Related Articles

Online Heat Pump Seller Prosecuted for Breaching F-Gas Regulations

An online retailer has been fined for selling HVAC equipment without ensuring that it would be installed by a properly qualified engineer. Appliances Direct (AD) was...

 Read Full Article
Interserve Fined £4.4m for Failure to Keep Staff Details Secure

The UK’s IT security watchdog has fined Interserve for breaching data protection law and failing to prevent a cyber attack. The Information Commissioner’s...

 Read Full Article
TfL Fines Thames Water for Unsafe Streetworks

Thames Water has been fined £100,000 for four safety streetworks related offences committed on the Transport for London Road...

 Read Full Article
Million Pound Fine for Breaching F-Gas Regulations Handed to London Firm

London-based firm IMO Gas Supplies Ltd has been found guilty of seven separate offences all linked to breaches of regulation 31A of the Fluorinated Greenhouse Gases...

 Read Full Article
Health and Safety Breach Fines 142% Higher Than Compliance Costs

SMEs that defy health and safety regulations could face a fine 142 per cent higher than the yearly cost of complying with the measures. Analysts at health and...

 Read Full Article
Airline Company Guilty For Unsafe Operation of Passenger Lift

Flybe, the airline company, was sentenced on 4 February 2020 for the unsafe operation of a passenger lift. Meanwhile, a number of other firms have found themselves...

 Read Full Article
Newnham College Cambridge Lands Asbestos Failings Fine

Newnham College Cambridge has been fined for failings that exposed employees and subcontractors to asbestos during refurbishment of a flat owned by the...

 Read Full Article
Support Service Company Fined For Brain Injury Fall

A company providing a range of airline ground support services has been fined after an employee fell from a height of more than two metres - suffering fractures and a...

 Read Full Article
School Gets Hard Knock With Fire Conviction

A prestigious Wakefield school and former fire risk assessor have been fined after admitting fire safety offences across educational premises. The conviction was first...

 Read Full Article
Chemical Co Convicted At Christmas

Just before Christmas, a chemical company (LMA Services Ltd) was sentenced for breaches that led to a fire. Meanwhile, a fall from height has cost Sir Robert McAlpine...

 Read Full Article