§ Sec­tion 1293 BGB Pled­ging of bea­rer secu­ri­ties

Auc­tion of com­pa­ny shares

§ Sec­tion 1293 BGB Pledge of rights to bea­rer secu­ri­ties

The pro­vi­si­ons on the pledge of rights to mova­ble pro­per­ty also app­ly to the pledge of rights to bea­rer secu­ri­ties.

• in accordance with § 793 BGB the bond to the bea­rer
• accor­ding to § 1195 BGB the bea­rer land char­ge cer­ti­fi­ca­te
• accor­ding to § 1199 BGB the annui­ty bond
• accor­ding to § 5 ScheckG the bea­rer check
• in accordance with Sec­tion 10 (1) AktG, the bea­rer shares
• in accordance with sec­tion 18 (1) KAGG, the invest­ment unit

Rea­liza­ti­on of com­pa­ny shares

In order to con­duct the auc­tion, pre­cise know­ledge of the pro­ce­du­re and the neces­sa­ry con­tracts is a man­da­to­ry pre­re­qui­si­te. We have the rele­vant exper­ti­se thanks to the suc­cessful rea­liza­ti­on of such con­tracts.

Expe­ri­ence shows that when sel­ling com­pa­ny shares, achie­ving the best pos­si­ble sale result can­not be redu­ced to pla­cing man­da­to­ry adver­ti­se­ments and the pure auc­tion pro­cess alo­ne. The real chall­enge lies in iden­ti­fy­ing and actively gene­ra­ting sui­ta­ble finan­cial inves­tors. This requi­res good natio­nal and inter­na­tio­nal con­nec­tions as well as sound com­mer­cial know­ledge and pro­fes­sio­nal expe­ri­ence, as gua­ran­teed by our team.

The­re are seve­ral reasons why it may make sen­se to have the auc­tion of shares trans­fer­red as secu­ri­ty car­ri­ed out by a sworn auc­tion­eer who spe­cia­li­zes in this pro­cess — as oppo­sed to bai­liffs or nota­ries.

Bai­liffs work in a fixed dis­trict and are the­r­e­fo­re gene­ral­ly not used to gene­ra­ting sui­ta­ble inves­tors for such an auc­tion nati­on­wi­de and inter­na­tio­nal­ly. In addi­ti­on, the focus of trai­ning for judi­cial offi­cers is usual­ly such that the com­mer­cial and legal know-how requi­red for the auc­tio­ning of com­pa­ny shares is rather rudi­men­ta­ry. Apart from this, judi­cial offi­cers do not see them­sel­ves as busi­ness peo­p­le, but rather as exe­cu­ti­ve bodies.

The situa­ti­on is simi­lar for nota­ries. They see their core com­pe­tence in the recor­ding of con­tracts, deeds and trans­fers. A nota­ry’s office is not equip­ped to proac­tively iden­ti­fy and gene­ra­te finan­cial inves­tors. Howe­ver, the law sti­pu­la­tes that pled­ges must be rea­li­zed in the best pos­si­ble way. This appli­es not only to the actu­al auc­tion pro­cess, but also to its pre­pa­ra­ti­on.

Our assign­ment ensu­res that the rea­liza­ti­on of com­pa­ny shares is car­ri­ed out free of ins­truc­tions, impar­ti­al­ly and in com­pli­ance with the rights of all par­ties invol­ved in the best pos­si­ble way and at a reasonable cost. This means legal cer­tain­ty for all par­ties invol­ved.