Erscheinung:25.04.2019, Stand:updated on 21.06.2021 | Topic Unauthorised business Fikret Öcal/Yering Ltd.: BaFin orders the cessation and winding-up of unauthorised deposit business
In a notice dated 29 March 2019, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) ordered Mr Fikret Öcal, Waldkraiburg, to cease and wind up his unauthorised deposit business.
Öcal, under the name of Yering Ltd., Kingstown, St. Vincent and the Grenadines, accepts unconditionally repayable funds from German and international investors. He is thereby conducting deposit business without the required authorisation from BaFin.
The order is final.
By decision of 25 May 2021 BaFin appointed
Dr. Holger Leichtle
c/o GÖRG Insolvenzverwaltung
Partnerschaft von Rechtsanwälten mbB
Büchsenstraße 20
70174 Stuttgart
to liquidate the investment business conducted by Mr. Öcal without authorisation.
The liquidator reviews the existing assets and liabilities of Mr. Öcal. He may file a petition for instituting insolvency proceedings against the assets of Mr. Öcal if he determines that the relevant conditions exist.
The BaFin orders are immediately enforceable by law. They may still be subject to judical review.
