Dr Philipp Rüppell: Arbitration clauses in articles of association: the special case of the Publikums-KG (German investment trust)

Dr Philipp Rüppell, member of the practice groups Corporate Litigation and Arbitration, has in a current article published in the journal Betriebsberater (19/2014, p. 1091 ff.) dealt with the subject of arbitration clauses in the articles of association of partnerships – in particular the Publikums-KG (German investment trust). The reason for this was outstanding legal issues which a now playing a role in numerous legal disputes in connection with closed funds organized as Publikums-KGs (German investment trusts). The global financial and business crisis in the years from 2008 onwards led to drastic changes in the financing of larg-volume investment objects. Shipping funds, in particular, were often established in the form of a GmbH & Co. KG (limited commercial partnership (KG) with a limited liability company (GmbH) as general partner). Many of the funds structured along the lines of the “KG model” got into difficulty. The legal disputes arising in this content between issued and management on the one hand and investors on the other hand can be settled appropriately by arbitral tribunals; the direct participation of private investors as limited partners, however, results in difficulties with respect to the formal validity of arbitration clauses in articles of association. The article by Dr Rüppell presents the problematic issues comprehensively and develop possible solutions which are oriented to the interests of the parties involved.