German president: Lower Saxony refuses accusation of non-investigating Wulff

Brennessel

Lower Saxony intends to pay costs for marmelade event in Holland(DUTCH)

Bild.de: million euro loan for letter box firm

There were no offices,there were never any movies produced, the firm had no workers.

Movie producer David Groenewold is not only a close friend of German president Wulff, but he looked out for close business relations 2 Wulff 2.


The shiny movie-fiancer was so enthusiastic of Wulff that he even located his firm "Waterfall productions GmbH" in Hanover. "We picked the location Lower Saxony intentionally, because (here) prime Christian Wulff gives many important impulses in a strong personal effort for the intensified development of the media economy" Groenewold mused who is manager of the (mothercompany) Odeon AG which is located in Munich. It was a coordinated press release (with Wulff).


Wulff's state govt was obviously this convinced of Groenewold's Waterfall production that it provided a state loan about 4 mio euro. The Odeon AG which was deep in red in 2006, reported in may 2007 in an (immediate release) report with stock-exchange-relevance about the founding of Waterfall productions: "The financing of the productions is furthermore ensured through a loan-enacting in 2006 by the state of lower Saxony.(...)"

But: Its now becoming public that Waterfall productions existed only as letters on a sheet.




The former ceo (manager) Stephan Hansch to Bild.de:" Waterfall productions did not produce one single movie. THere were no workers and no furnitured offices. There never happened a thing at the address on the expo-area. " Clearer: It was a letter box firm.
Waterwall productions was written into the business (trade) register of the court of Hanover in aug 2007, Groenewold was 1 of 4 managers. The registered address was located on the expo-area. Waterfall productions was deleted in 2010 from the register.



Why was the frim founded (then) at all? Which use had the state loan?
Ex-manager Hansch: "Due to current investigations I dont like to make a statement."
Finance expert: "Principally, that such a (state) loan changes your credit worthiness (towards an AAA rating)."