The German court at the epicentre of the ongoing cum-ex scandal is to truncate the trail at the heart of the pan-European debacle, in view of the coronavirus outbreak that has rocked the world.

Bonn district court announced Tuesday that it will end 'evidence-taking' in the trial of five banks involved in the billion-euro tax evasion scandal—the first criminal case in the affair.

According to a statement, the court closed the 'taking of evidence' yesterday, and will progress to the main trail Wednesday. Local press has suggested that this could see the court reach a final judgment this week.

In September, two London-based bankers, known Martin S and Nicholas D, stood before the court charged with spearheading the transactions between 2006 to 2011.

It comes as Germany, like other countries the world over, tightens restrictions around social and workplace gatherings in an effort to curb an outbreak that has affected nearly 10,000 people in the country, of whom 26 have now died.

The trial is the first in a wider investigation that seeks to recover billions of euros from banks that took part in so-called cum-ex schemes, whereby banks claimed twice on tax rebates. Germany has said the schemes have cost its taxpayers €5 billion.

The scandal has since plunged a number of major law firms into suspicion of misconduct and, worse, criminal wrongdoing, including Freshfields Bruckhaus Deringer, whose global head of tax, Ulf Johannemann, was arrested in November.

Earlier this month, Clifford Chance's Frankfurt office was raided by German authorities seeking files on a banking client caught up in the saga, while in December, co-managing partner of DLA Piper Germany stepped down amid revelations of his potential ties to the matter.

Though an impending decision could be the first to condemn the cum-ex scheme as criminal tax evasion, any judgment is likely to be appealed at the Federal High Court.