Erscheinung:22.09.2021, Stand:updated on 16.02.2023 | Topic Measures Publication of financial reports: Federal Office of Justice imposes disciplinary fine on ZhongDe Waste Technology AG
On 19 July 2021, the Federal Office of Justice (Bundesamt für Justiz – BfJ) imposed a further disciplinary fine amounting to 1,000,000 euros on ZhongDe Waste Technology AG.
The disciplinary fine order related to a breach of section 325 of the German Commercial Code (Handelsgesetzbuch – HGB). ZhongDe Waste Technology AG failed to submit its accounting documents for the financial year 2018 for the purpose of disclosure to the operator of the German Federal Gazette (Bundesanzeiger) in electronic form. The legal basis for the sanction is section 335 of the HGB.
The company lodged an appeal against the Federal Office of Justice’s decision to impose a disciplinary fine.
Update (16.02.2023):
In a decision dated 22 January 2023, the Bonn Regional Court (Landgericht Bonn) reduced the disciplinary fine to 600,000 euros; the other aspects of the complaint were dismissed on the merits. The court refused leave to appeal on points of law to the Cologne Higher Regional Court (Oberlandesgericht Köln).
