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PRESS RELEASE 7 February 2012


The Jersey Financial Services Commission (the “Commission”) issues this Press Release in relation to the following named individuals:

  1. Mr Georg Josef Kucian;
  2. Mr Karel Philip Römer; and
  3. Mr Heinrich Walter Schwägler.

The three individuals were at all material times directors of the Jersey-incorporated public company then known as Meinl European Land Limited (“MEL”). 

This Press Release should be read in conjunction with press releases issued by the Commission dated the 14 July 2008 and the
22 December 2010 concerning the Commission’s appointment of inspectors under the Companies (Jersey) Law 1991, as amended (the “Companies Law”), to investigate the affairs of MEL.  The previous press releases can be accessed by the following links:

Notwithstanding the Commission’s findings that there had been no breaches of the Companies Law, Mr Kucian, Mr Römer and Mr Schwägler have each voluntarily entered into a written undertaking with the Commission not to act in any of the following capacities without the prior written consent of the Commission:

  1. As director of a company incorporated under the Companies Law or of a Jersey-incorporated company existing when the Companies Law was brought into force or in any other way, be directly or indirectly concerned or take part in the management of a Jersey-incorporated company;
  2. Whilst in Jersey, be in any way directly or indirectly concerned or take part in the management of a body incorporated outside Jersey; or
  3. As principal person or key person of a regulated entity, as defined by the Jersey regulatory laws1; or as partner of a Jersey limited liability partnership as defined by the Limited Liability Partnerships (Jersey) Law 1997; or be appointed under the regulations of a foundation established under the Foundation (Jersey) Law 2009; or be employed in any capacity by a registered person authorised under any of the said Jersey regulatory laws.

This undertaking is not intended and shall not be interpreted as an acceptance or acknowledgment of any wrongdoing on the part of the three former directors.  Mr Kucian, Mr Römer and Mr Schwägler have each co-operated with the Commission and have agreed to this Press Release being issued. 

Based on the facts known and the information available to the Commission, the investigation which related to events during 2007 and which concerned Meinl European Land Limited and its directors, officers and agents is considered to be closed.  No further action will be taken by the Commission in connection with this investigation.

- Ends -

For further information please contact: -

Barry Faudemer - Director, Enforcement
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822137
Fax: + 44 (0) 1534 822001

1 The Financial Services (Jersey) Law 1998, as amended; the Collective Investment Funds (Jersey) Law 1988, as amended; the Banking Business (Jersey) Law 1991, as amended; and the Insurance Business (Jersey) Law 1996, as amended.


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