Erste Abwicklungsanstalt (EAA) is a public law entity with partial legal capacity operating within the German Federal Agency for Financial Market Stabilisation (FMSA) Its task is to wind up the approximately €185 billion of assets and risk positions acquired from WestLB AG – trading as Portigon AG since 1 July 2012 – in such a manner as to salvage as much of their value as possible.
In successive steps, EAA is taking control of all the relevant documents relating to the portfolio that is to be wound up. A large number of business-relevant files and documents need to be made accessible to employees of EAA and Portigon AG in one central location.
Following the successful development phase and the installation of the system at EAA, a first tranche comprising around 18,000 documents selected from the most important credit and securities files were migrated to the system. After this initial migration, an ongoing operation is now in progress to transfer the remaining files and documents from the various business areas.