In a civil proceeding, the Munich Regional Court subsequently declared the balance sheets of the scandalous Wirecard group for the years 2017 and 2018 to be null and void.
On Thursday, the chamber upheld a lawsuit filed by the insolvency administrator Michael Jaffé.
The dividend resolutions for the two years are therefore also void.
The lawsuit was based on the alleged bogus bookings with which Wirecard managers are said to have inflated the balance sheets by invented billions.
The group collapsed in 2020 after admitting bogus bookings of 1.9 billion euros, the former CEO Markus Braun has been in custody for almost two years.
In 2017 and 2018, Wirecard reported high profits totaling more than 600 million euros and paid out dividends in the double-digit millions.
According to the investigations of the Munich public prosecutor's office, these profits actually did not exist.