A group of American investors have filed several lawsuits to pressure Germany to honor bonds issued by the Weimar Republic. Hitler banned repayment of the bonds and Berlin says a deadline for registering the bonds passed decades ago. Should Germany lose, it could cost the country billions. Their age and provenance are clear enough: The bonds were issued by the Weimar Republic some 80 years ago to raise cash. Just how much they might be worth today is open for debate. But six investors in the US are taking Germany to court to find out -- and to force the country to pay up. The certificates were issued by the Weimar Republic in the 1920s as a way to help pay debts and reparations demanded after World War I. They are still, in fact, being traded with investors hoping they can eventually be redeemed. Now a handful of investors hope lawsuits filed in several federal courts in the US will force Germany to pay off the bonds. Their value could be hundreds of millions of dollars, with some estimates going into the billions. A month ago, a Miami court ruled against Germany's request to dismiss the lawsuits; Germany had argued that US courts did not have jurisdiction.
A group of American investors have filed several lawsuits to pressure Germany to honor bonds issued by the Weimar Republic. Hitler banned repayment of the bonds and Berlin says a deadline for registering the bonds passed decades ago. Should Germany lose, it could cost the country billions.
Their age and provenance are clear enough: The bonds were issued by the Weimar Republic some 80 years ago to raise cash. Just how much they might be worth today is open for debate. But six investors in the US are taking Germany to court to find out -- and to force the country to pay up.
The certificates were issued by the Weimar Republic in the 1920s as a way to help pay debts and reparations demanded after World War I. They are still, in fact, being traded with investors hoping they can eventually be redeemed.
Now a handful of investors hope lawsuits filed in several federal courts in the US will force Germany to pay off the bonds. Their value could be hundreds of millions of dollars, with some estimates going into the billions. A month ago, a Miami court ruled against Germany's request to dismiss the lawsuits; Germany had argued that US courts did not have jurisdiction.
If you want to rob another country blind in a business deal, go to america. keep to the Fen Causeway
If you want to rob another country blind in a business deal, go to america.
Oh, I dunno, Russian courts have an interesting approach to corporate law. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
I fully support paying off all these bonds in the currency in which they were purchased: Rentenmarks.
