Higher Regional Court Schleswig: Waterfall rules in silent participations, Recht der Finanzinstrumente 2019, page 259

When interpreting a silent partnership agreement, it must be differentiated between the assessment basis for profit and loss participation, the allocation and the distribution itself. In “Recht der Finanzinstrumente”, Dr. Ulrike Binder comments on what you should know about the OLG ruling of 03.05.2019 in relation to "Waterfall rules in silent participation agreements".