The German Federal Court has rejected the claims of Wirecard shareholders for payouts from the insolvency estate, affecting around 50,000 shareholders, including Union Investment.This ruling overturns a previous decision from the Munich Higher Regional Court, confirming that creditors are prioritized over shareholders in asset distribution during insolvency cases.Current estimates show total claims against Wirecard at €15.4 billion, while only €650 million is available within the estate.