Case update: The long wait for the BGH pays off

There is still no information from the Federal Court of Justice (BGH) as to whether the revision in the case of the insolvent company Sieber against the Free State of Bavaria will be allowed.

How long will the affected parties and sponsors have to wait for a decision? According to official BGH statistics, the majority of appeals against denial of revision are decided within one year of receipt of the appeal. However, it may well take longer.

In view of the long duration of the proceedings, interest on the claim is becoming increasingly important. Here is a current projection:

According to a breakdown by the law firm Dr. Hingerl & Partner, the default interest accrued since 2020 on the original principal claim of EUR 12,149,074 would already amount to EUR 2,348,355. As interest rates have also risen from 4.12 percent in 2020 to 8.62 percent since January 1, 2024, the interest clock is ticking faster and faster. In the period from January 1 to May 21, 2024 alone, the interest claim would have grown by EUR 410,173.

The statistics of the Federal Court of Justice also show that only a small proportion of appeals against denial of revision are ultimately successful: in 2023, only 13% of appeals against denial of revision were successful. The third civil senate responsible for the Sieber proceedings even only allowed 6.7 percent of the appeals in 2023.

In short: Statistically speaking, there is a high probability that the judgement of the Munich Higher Regional Court will soon become legally binding. And with a current interest rate of 8.62 percent, the interest on the claim is not unattractive.