"Cum-Ex" diary dispute: Banker fails with hearing appeal
In the "cum-ex" diary dispute, banker Christian Olearius has failed in his appeal to the Federal Court of Justice (BGH). In a decision published in Karlsruhe on Thursday, the appeal against a BGH ruling from May 16 of this year was unsuccessful. The ruling did not violate the plaintiff's right to be heard.
Olearius had seen his personal rights violated by the publication of verbatim quotes from his diaries and sued the "Süddeutsche Zeitung". In September 2020, the newspaper had published a report on its website entitled "Notes from high society" - with quotes from the diaries. The article was about the possible influence of Hamburg politicians on decisions made by the tax authorities in connection with multi-million euro tax reclaims following "cum-ex" transactions.
The diaries were confiscated in March 2018 during a search of Olearius' private premises. The records revealed meetings between the then Mayor of Hamburg and current Federal Chancellor Olaf Scholz (SPD) and the banker in 2016 and 2017.
The Hanseatic Higher Regional Court in Hamburg had largely ruled in favor of the banker. However, the BGH overturned the ruling in May and emphasized the interest of the public: the "Süddeutsche Zeitung" was therefore allowed to quote verbatim from the diaries of the co-owner of Hamburg-based Warburg Bank, which was involved in the "cum-ex" scandal. According to the BGH, the verbatim reproduction provided a complete and undistorted picture in the reporting on a topic for which the public had an overriding interest in information.
According to Section 321a of the German Code of Civil Procedure, a final judgment can be reviewed by means of an objection to a hearing. As a rule, such objections are not successful. However, in the event that a plaintiff wanted to lodge a constitutional complaint, a hearing objection would be a prerequisite.
- The publication of verbatim quotes from Olearius' diaries in the "Süddeutsche Zeitung" was upheld by the Federal Court of Justice (BGH) in their ruling against Olearius' hearing appeal, as they believed it was essential for providing a comprehensive and unbiased picture of a public interest topic related to taxes and finances.
- Banks and financial institutions, such as Warburg Bank, have been scrutinized in the context of the "cum-ex" scandal, as judgment processes have revealed potential influential meetings between high-ranking politicians and bankers, as witnessed in Olearius' diaries.
- The media plays an essential role in reporting on financial and tax matters, as shown in the "cum-ex" diary dispute, where the verbatim quotes from Olearius' diaries provided crucial evidence in uncovering potential misconduct and shady deals, contributing to judicial processes that hold individuals accountable for their actions.
Source: www.dpa.com
