George Hope, Tingelman’s heir, is suing his brother Christian, according to the newspaper “Lebensmittelzeitung”. He demands the repayment of 800 million euros from the company’s reserves.
Christian Hope is said to have pledged parts of the company.
Since the disappearance of Karl-Erivan Haub in the Swiss Alps in 2018, the management problem at the company has not been resolved.
The dynastic feud in the Tengelmann Empire continues to escalate and is now on trial. George Hope, one of the remaining heirs to the company, is suing his brother Christian. It is about repaying the 800 million euros from the company’s reserves that Christian Hope sold to the dismay of his brother. Christian Hope mortgaged parts of the company in order to increase his power. Because since the tragic disappearance of her brother Erivan Hope, the controversy has been around the running of the family business.
As “Lebensmittelzeitung” reports, a court spokeswoman confirmed the 800 million-euro payment claim to Tengelmann Warenhandelsgesellschaft KG.
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Business Insider exclusively reported the feud between the two brothers at the end of last year. In April 2018, Karl Erivan, President of Tengelmann, disappeared without a trace in the Swiss Alps. Then those close to the family reported that the situation had broken, while peace was supposed to be preserved for the outside world. In the end, Christian got what he wanted: The Karl Erevan children sold their 34 percent stake in Tengelmann-Reich in June. With more than 68 percent of the stock in the company now, Christian can do whatever he pleases.
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The “Big Bang” happened because Christian used the forfeiture of company shares to buy children’s shares. George did not agree. As Business Insider has learned, Georg’s attorneys have hired an expert to legally review the facts of the case. The expert came to the conclusion that Christian would have needed a three-quarters majority to mortgage the shares and thus George’s approval. That’s why he’s suing George now.