Describes who provides traditional financing in Germany. Discussesterms and collateral. Overviews the German Land Register.
Notes that German open‐end property funds play a visible, althoughnot predominant, role in property financing in Germany. Describes theirstructure, the strict set of rules about…
Abstract
Notes that German open‐end property funds play a visible, although not predominant, role in property financing in Germany. Describes their structure, the strict set of rules about permitted investment, disclosure and reporting and tax treatment. Considers that as opposed to public property funds, special funds permit the creation of tailor‐made property portfolios for single or small groups of investors which are not individuals.
Details
Keywords
James B. Shein, Evan Meagher, Matt Darcy, Abhishek Mitra and Barrett Willich
On March 7, 2013, ThyssenKrupp Group CEO Heinrich Hiesinger was shocked to receive a resignation letter from Gerhard Cromme, chairman of the company's supervisory board.Hiesinger…
Abstract
On March 7, 2013, ThyssenKrupp Group CEO Heinrich Hiesinger was shocked to receive a resignation letter from Gerhard Cromme, chairman of the company's supervisory board.
Hiesinger had been CEO since 2010. Early in his tenure, ThyssenKrupp incurred massive losses from disastrous steel investments and faced allegations of colluding with other companies to fix prices in its railway steel operations. As a result, Hiesinger had been forced to dismiss three executive board members, one for violating company policy. After a supervisory board member also was dismissed for violating company policy, the company's offices were raided in an investigation of price-fixing in steel contracts to the automotive industry.
Cromme had been sharply criticized by shareholders and analysts as an impediment to the cultural, strategic, and governance changes Hiesinger was trying to make to address the scandals at ThyssenKrupp, but for months he defiantly had resisted calls for his removal. With no warning, he resigned without naming a successor or creating a plan to select one.
Now that he no longer needed to deal with the distractions created by Cromme's presence, Hiesinger was free to finalize a plan to address the defects in ThyssenKrupp's governance.
Details
![Kellogg School of Management](/insight/static/img/kellogg-school-of-management-logo.png)