JoWood Sues Former Shareholder

Businessn.a. ♦ Published: January 5, 2011; 20:14 ♦ (Vindobona)

Vienna Stock Exchange listed JoWooD Entertainment AG today filed a law suit demanding payment of an amount of € 2.36m plus interest.

JoWood Sues Former Shareholder / Picture: ©

JoWooD asserts that the accounts receivables, which were contributed by KOCH Media GmbH as an in kind capital contribution in the course of JoWooD's capital increase in January 2006, were overvalued: In that capital increase JoWooD had issued a total of 6.4m new shares to KOCH Media GmbH for an aggregate issue price of € 6.4m. However, the accounts receivables contributed by KOCH…