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

Sunday, 5 July

Bilfinger Supervisory Board To Seek Damages Against Former Executive Board Members

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


Related Articles

Hotel All At Sea Over Asbestos

Two companies have been fined. RJW Building Solutions, a contractor carrying out refurbishment work at the Sea Hotel in South Shields and Hotel 52, the client, were...

 Read Full Article
Facial Recognition Now Available - But Trouble Brewing Ahead

A commercially available facial recognition system has just been launched. Meanwhile, developer Argent could be in hot water for using LFR and both the ICO and a...

 Read Full Article
Sort The Confusion - Falling Recycling Rates Blamed On Lack Of Understanding

Waste giant Biffa has called for UK recycling confusion to be sorted, saying that inconsistency and confusion in labelling, sorting and collections are preventing UK...

 Read Full Article
Well Blow Me Down - Director Fined For Being Blown Off Roof

A director of a construction has seen his company (along with two others) fined when he was blown off an unsafe roof.  The three firms, Bowmer and Kirkland,...

 Read Full Article
Child Killed By Badly Installed/Maintained Falling Gate

An electric gate company has been convicted after a young boy was crushed and killed by a falling electric gate. The installers and subsequent maintainers never spotted...

 Read Full Article
Lanes Fined £500,000 After Worker Injured In Fall

Lanes Group PLC have been fined £500,000, with £9,896.19 costs, after pleading guilty to one offence under the Work at Height Regulations 2005. Westminster...

 Read Full Article
School Children Avoid Scaffolding Collapse

A scaffolding company has been fined after scaffolding it had erected collapsed onto a neighbouring primary school. Cardiff Magistrates’ Court heard Swain...

 Read Full Article
Sheriff Court Goes Further With Shell

The early days of August have already seen four companies receive substantial H&S fines. Shell received the biggest of these when a cylinder and valve becoming...

 Read Full Article
The Rights and Wrongs Of Prohibition Notices

The Supreme Court has recently decided that where a Prohibition Notice is served and subsequently found to be unfounded, the Notice can be rescinded or modified but the...

 Read Full Article
Vehicle Crushes Pedestrian & Other Cases

A worker has been sentenced after seriously injuring pedestrian - we have the disturbing CCTV footage of the incident plus news of another six...

 Read Full Article