FRANKFURT, Sept 24, 2007 (AFP) - A German shareholder has filed a court case against property group Hypo Real Estate Holding to challenge the legality of its purchase of Depfa Bank in Ireland, Hypo Real Estate said Monday.

A court in Munich would only rule on the lawsuit once the transaction had been completed, it added.

'Hypo Real Estate Holding believes that the announced proceedings have no merits and intends to complete the transaction on schedule,' the statement said.

It did not identify the shareholder.