by lawyer Martin Arendt, MBL-HSG
The business model of the icon group, Oberhaching, belonging GASTRO-AWARD Germany AG looks in the prospectus, in particular, the concept and the brand "GASTRO-AWARD" by another subsidiary of Icon Group, the company KiWi event experience gmbh (both based Celtic Ring 17, 82041 Oberhaching) to evaluate and purchase. The first deferred purchase price is about the large number of small investors as Beneficiary funds raised are funded (profit participation capital of EUR 7 million), providing investors with a - not nearly as realistic in our view - "average dividend yield" of up to 14% pa promised.
exist In my view, serious doubts whether the "agreed upon" in a group, a purchase price of an arm's length even comes close to, ie whether the expensive purchased brand GASTRO-AWARD "and the concept actually fixed purchase price of EUR 2.4 is worth millions. Indicative of this, that the same lawyer as both the seller and the buyer "looked after" is. The long-standing legal representative of the icon group, Mr. Stephan Wiedorfer lawyer from the law firm lawyers Wiedorfer is, according Prospectus "legal services to the Issuer" and both partners of the Seller, the Company KiWi event experience GmbH, as well, according to the shareholder of the Company at its website GASTRO-AWARD Germany AG, So the buyer. His work is in the prospectus, the company GASTRO-AWARD Germany AG on p. 103 below are described as follows:
" heard Mr. Stephan Wiedorfer the Supervisory Board of IVAG to AG and holds a minority interest (1%) on the Kiwi Experience gmbh. In his capacity as a lawyer he supervised both the Issuer and the KiWi EventExperience gmbh, IVAG AG, and the icon GmbH & Co. KG Holding. "
These multiple functions of civil law attorney Stephen Wiedorfer are in our estimation, not without problems. Sun care of Mr. Attorney Wiedorfer that of lawyers not only both the seller as the buyer, although these have fundamentally different interests (particularly the highest possible price for the seller vs. The lowest possible price from the buyer point of view). In addition, he represents the interests of the Issuer, whose board he served previously, as well as the interests of the distributor, the company IVAG Ltd., whose board he is a member. Also in this respect There is a conflicting interests (the highest possible proceeds vs. the highest possible commission). Not least, the company IVAG AG (also based Celtic Ring 17, 82041 Oberhaching) Fuse holder and landlord of the company GASTRO-AWARD Germany AG. Also in this respect there is a problematic conflict of interest.
From my point of view problematic multiple functions is also available at the tax consultant Ralph Adamy and both the seller and also on the GASTRO-AWARD Germany AG participated Mr Ronold Denk, whose consulting company Procenta is involved GmbH in the sale of participation rights.
Neither the prospectus nor any other way, the (potential) investors in the criminal proceedings against the Icon initiators Pitter-Kilfitt (criminal defense lawyer Wiedorfer) and Wittke (since 2002 convictions for unauthorized bank transactions) pointed out. For that reason, in my view of § 264a of the Criminal Code (investment fraud) met factual terms, since it is a relevant criminal conviction is a relevant factor for the investment decision.
The initiator Pitter-Kilfitt canceled the Waldorf school in the details of the criminal sentence issued against him without a degree. Mrs. Witt is a trained medical technician and housekeeper. Both are therefore - regardless of the relevant criminal history - not sufficient for the installation of third party funds professionally qualified.
also an indication of financial problems and in our estimation, even this economic failure of the icon group previously launched investment products (Alpina funds, AVIMA funds, ISIS funds, etc.) are not.
investment product:
prospectus of GASTRO-AWARD Germany AG on 15 November 2008
pleasure capital of EUR 7,000,000 -
700,000 (restricted transferability) Name Beneficiary in the principal amount of EUR 10, - plus premium of 5%
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