17.07.2017
Crown Westfalen Bank Aktiengesellschaft i.L. Mr Lothar Ziller, Bochum.
Members of the Supervisory Board are: Ulrich Schultheis, Glashütten / Ts. Chairman Eric Stoclet, LondonVice-Chairman until 16.01.2013 Mark Pearson, Londonfrom 16.01.2013and since then Deputy Chairman Uwe Lenz, Dortmundehemals employee of Crown Westfalen Bank AG (i.L.) MandatesThe liquidator and the members of the Supervisory Board of Crown Westfalen Bank AG i.L., Bochum, were not represented in any statutory supervisory bodies of large corporations to be constituted. Use of results The profit and loss account shows a surplus of EUR 23 thousand for the financial year 2012. The liquidator of Crown Westfalen Bank AG i.L. proposes to take the surplus of EUR 23 thousand into account as a new lecture. Bochum, 14 May 2013Lothar Ziller, Management Report 2012 of Crown Westfalen Bank Aktiengesellschaft i.L., BochumGeschäftliche Entwicklung The financial year from 01 / 01 / 2012 to 31 / 12 / 2012 was characterised by the fact that the liquidation decided on 19 / 05 / 2010 was to continue as planned on 01 / 09 / 2010. Net assets, financial assets and income situation Due to the dissolution and liquidation of the company, the assets and liabilities were accounted for in accordance with the principles of continuing business activities (§ 252 paragraph 1 no. 2 HGB) and in accordance with the principles of company winding-up. Total assets decreased from TEUR 3,617 to TEUR 3,540. The main reason for this was the planned consumption of provisions for the costs of winding-up. The assets as at 31 / 12 / 2012 mainly relate to receivables from credit institutions of EUR 3.1 million. Other assets consist mainly of receivables for withholding tax refunds to the Italian tax authorities in the amount of TEUR 380. Provisions relate to the additional administrative and material expenses expected until the winding-up of the company. At the end of the financial year, the company had an inventory of cash and cash equivalents of EUR 3.1 million at two credit institutions. ProfitabilityLack of continued active business, there was essentially only income from the partial realization of old credit receivables that had already been written off. Profitability for the period amounted to EUR 23 thousand. Personnel area A former employee will continue to work on a part-time basis in order to be able to answer inquiries from former customers. Risk report Due to the operational business that was no longer operated in the financial year, there was no longer any need for the risk management and control system according to § 25a of the German Banking Act and the minimum requirements for risk management adopted by BaFin for this purpose. However, the liquidator determined the appropriateness of the financial resources to cover the financial obligations at regular intervals by means of updated liquidation lications and informed the supervisory board quarterly on the current status. In 2012, the duties of the liquidator concerned the handling of outstanding business cases and the handling of requests from former customers. The creditor appeal was made in accordance with Section 267 of the German Stock Corporation Act (AktG) by publication in the electronic Federal Gazette on 17 September 2010. Accordingly, the vesting period for creditor protection in accordance with Section 272 of the German Stock Corporation Act (AktG) one-year period expired on 17 September 2011. Bochum, 14 May 2013Lothar Ziller, liquidator Auditor ’ s Auditor ’ s NoteWe reviewed the annual financial statements consisting of the balance sheet, profit and loss account and notes, including the accounting and the management report of Crown Westfalen Bank Aktiengesellschaft i.L., Bochum, for the financial year from 1 January 2012 to 31 December 2012. Accounting and the preparation of annual financial statements and management report in accordance with German commercial law and the supplementary provisions of the Articles of Association are the responsibility of the legal representative of the company. We have conducted our annual audit in accordance with § 317 of the German Commercial Code (HGB) in accordance with the German principles of regular auditing established by the Institute of Auditors (IDW), according to which we must plan and conduct the audit in such a way that misstatements and breaches that have a significant impact on the presentation of the balance sheet of the financial position and financial position provided by the annual financial statements in accordance with the principles of proper accounting and the management report are detected with reasonable assurance. In defining the audit activities, we take into account the company ’ s business activities and economic and legal environment, as well as the expectations of possible errors. In the audit, the effectiveness of the accounting-related internal control system and evidence for the statements in the accounting, annual financial statements and management report are mainly assessed on the basis of samples. We are of the opinion that our audit provides a reasonably safe basis for our assessment and has not led to any objections. In our opinion, based on the findings of the audit, the annual financial statements comply with the statutory provisions and the supplementary provisions of the Articles of Association and, in accordance with the principles of proper accounting, provide a true and fair picture of the Company ’ s financial position and assets. The management report is in line with the annual financial statements, provides an overall accurate picture of the Company ’ s position and correctly presents the risks of future development. Without limiting this assessment, we refer to the explanations in the Annex to the section on accounting principles and in the management report in the section on asset days, where it is stated that the annual financial statements were drawn up on the basis of the Company ’ s resolution and settlement, in derogation from the principle of continuing operations. Report of the Supervisory Board for the financial year 01.01.2012 to 31.12.2012 of Crown Westfalen Bank AG in conjunction with the financial statements of Crown Westfalen Bank AG. In the financial year 2012, the Supervisory Board carried out the duties assigned to it by law and had its duties informed of the situation of the Company in meetings and in individual meetings with the liquidator. If necessary, the liquidator passed the resolutions requested or required by law. Furthermore, the liquidator regularly reported to the Supervisory Board on its business activities, namely in the meetings of the Supervisory Board, by drawing up detailed quarterly reports and in individual meetings, to the extent that essential individual questions were concerned. In the financial year 2012, transactions requiring approval were not incurred and were accordingly not submitted to the Supervisory Board. The second full financial year since the dissolution of the Company resolved by the Annual General Meeting for September 1, 2010 was characterized by: ― settlement of the settlement of old claims, in particular insolvency claims against customers that had not been sold to third parties before the settlement commenced. In addition, the management of the financial statements has been subject to a special focus on the financial position, liquidity and profitability of the bank. A special focus on the supervision of risk management in the otherwise usual context with banks was no longer required in view of the initiation and the prohibited scope of business. In view of the audit scope of all payment movements in connection with the audit of the annual financial statements, special supervision of payment transactions could be waived. In addition, the supervision of the payment transactions could be omitted in view of the audit scope of all payment movements in connection with the audit of the annual financial statements. In addition, the management of the financial statements of the bank has been subject to the control of the financial statements of the financial statements of the bank. Furthermore, the management of the financial statements of the company has been subject to the control of the financial statements of the company. The members of the Supervisory Board were Mr. Ulrich Schultheis (Chairman of the Supervisory Board), Mr. Eric Stoclet (Deputy Chairman) and Mr. Uwe Lenz for the whole of 2012. In the first half of 2012 a meeting of the Supervisory Board took place on June 4, 2012, and in the second half of the year also on September 7, 2012. Due to the reduced scope of the Company in the liquidation, the Supervisory Board had decided to allow one meeting per half-year. In view of the small scope of business described above, the Supervisory Board did not set up any committees in the 2012 financial year. BDO AG Wirtschaftsprüfungsgesellschaft audited the annual financial statements as of December 31, 2012 and the management report, including the accounting. No objections were raised by the auditor and the unrestricted audit note was issued. In accordance with Section 170 of the Stock Corporation Act, the annual financial statements and the management report of the liquidator were submitted to the Supervisory Board. The Supervisory Board discussed the annual financial statements at its meeting today, June 3, 2013, in the presence of the auditor, who was included in the audit as far as necessary. Following the final result of its audit, the Supervisory Board did not object to the financial statements and management report. It approved the annual financial statements and recommended their adoption to the Annual General Meeting (Sections 172 and 270 of the German Stock Corporation Act). The Supervisory Board examined the liquidation of the liquidator ’ s proposed appropriation of profits in light of the company ’ s special situation and endorsed the liquidator ’ s proposal to re-present the annual surplus of EUR 23,080.47.