The shareholders of Raiffeisenbank Plankstetten have abolished the cooperative principle at the bank. The voting result of the general meeting indicates that the dispute surrounding the bank is far from resolved.
Former executives of Raiffeisenbank Plankstetten sued BaFin, claiming the regulator unlawfully hindered an audit. The Frankfurt Administrative Court rejected the claims, upholding BaFin’s supervisory powers.
German banking regulator BaFin has intervened at Raiffeisenbank Plankstetten by sending a special commissioner to the board following a special audit. The affected bank managers are contesting this supervisory action.