Burned Wirecard Shareholders Head to Top German Court for Payout

Wirecard AG shareholders have turned to Germany’s top civil court for clarity on their losses, in a case that could curb what the defunct fintech’s creditors recover following one of the nation’s biggest corporate scandals.

The suit at the Federal Court of Justice in Karlsruhe centers around whether shareholders’ damages claims against Wirecard should rank equally with those of creditors. Typically, they would only receive a payout in an insolvency case once all other creditor claims have been satisfied.

“There are arguments for both approaches,” Presiding Judge Heinrich Schoppmeyer said at the hearing on Thursday. The case was adjourned until ...