Success of application for interim probation 145
After a legal battle lasting nearly 9 months during which CACEIS Bank, KPMG and Natixis IM and H2O AM have, in a coordinated and concerted manner, multiplied the incidents, In particular by arguing that the request for an expert’s opinion 145 made by the Collectif Porteurs H2O is inadmissible, the interim order of 8 June 2022 issued by the Paris Commercial Court granted our request for an expert’s opinion; and appointed Mr. Eric Pinon as “recording technician” by requiring H2O AM to receive all the documents that we requested to be disclosed in order to enable us to trace all the operations and thus to determine precisely the extent of the faults committed by H2O AM (and the entities responsible for monitoring the compliance of the management of H2O funds and Side-Pockets with the regulations) as well as the amount of losses incurred by the H2O funds and Side-Pockets as part of the investments concentrated on the Tennor group.
In view of the success of this approach, the Association should have access to all the documents required for the purpose of making a claim on the merits.
Note that the companies CACEIS Bank (depositary of UCITS H2O), KPMG (statutory auditor of UCITS H2O) and Natixis IM (a company of the Natixis group responsible in particular for the internal control of H2O AM and the centralisation of the marketing of UCITS H2O), to which the association requested the delivery of probative documents and the participation in the expert examination procedure 145 with a view to the manifestation of the truth, have obtained from the Judge interim measures that he places them outside the current investigation procedure, The decision is based on certain statements by interested parties contested by the applicants and on the fact that the AMF has still not initiated disciplinary proceedings against these actors. The Association regrets the will of these “trusted third parties” to join forces to avoid the clarification of the responsibilities incurred in this matter and reserves the right to seek compensation against them if it is confirmed that the depositary and/or the auditor and/or Natixis IM have not fully played their role in Notify the Commission, for 6 years, serious irregularities in the management of H2O UCITS.