The media mogul Leo Kirch has a billion dollar lawsuit against Deutsche Bank before the Landgericht Munich suffered shipwreck.
His lawyers withdrew on Tuesday because of a calculation error, a damages claim over 1.1 billion euros. The chairman Judge Brigitte Pecher subsequently dismissed from the case. Visibly annoyed, she said to the representatives of Kirch: "You can not go into a negotiation."
Calls Kirch of Germany's largest bank and its former chief executive Rolf Breuer more than 3.5 billion euro damages. The indictment is based on a television interview Breuers from 2002 in which he believes the Kirch-side the creditworthiness of the media group doubt, whereupon the creditor banks, the money would While the rooster. Kirch's extensive company had not previously been the doomed, holds the Frankfurt Institute opposed.
In the core of negative replies 1.1 billion claim relates to the one shares package Springer-Verlag, is Germany's largest bank after the Kirch insolvency in 2002 as collateral for a loan was approved fall. The participation was then sold. Kirch would not because of the statements Breuers the money expected to have the Springer package is not an opinion of the Kirch lawyers at low price must be sold. However, the lawyers claim the sum probably better trading hours are calculated: The shares are currently worth less than when sold by Deutsche Bank in 2002. If their complaint now durchgekommen would have Kirch, the bank may even need to transfer money. The aback lawyers made the financial crisis responsible for the burglary, but Pecher judge replied: "That there is a price slump has given all we know." A lawyer of Deutsche Bank even asked to take a break so that "the lawyers time to mathematics" would "
Kirch's legal representatives want in the next two week appeal against the decision and the procedure so that once again roll up. The lawyers of Deutsche Bank analyzed the verdict as a success.
JUDGE TO DOUBT HEGT MORE
Two other cases Pecher will decide in March. In a Kirch's claim for damages of 400 million euros already indicated to the judge that the evidence so far is thin. That was "something very close to everything justified" and "extremely poor".
Also in the next procedure they expressed concerns. It is questionable whether the Kirch specially designed for compensation claims firm KGL pool was serious. "We are really a matter of skeptical," she said. The judge argued that KGL only with a thin capital base equipped and therefore in the event of a defeat for Kirch's not the litigation could arise. KGL pool is a special purpose company, in the insolvent subsidiaries of Kirch Group's former claims for damages amounting to just more than two billion euros have bundled.
Kirch's lawyers, including former Bavarian Minister Peter Gauweiler, now want to submit a written agreement that Leo Kirch, even for all financial liabilities of the KGL Pool her.
His lawyers withdrew on Tuesday because of a calculation error, a damages claim over 1.1 billion euros. The chairman Judge Brigitte Pecher subsequently dismissed from the case. Visibly annoyed, she said to the representatives of Kirch: "You can not go into a negotiation."
Calls Kirch of Germany's largest bank and its former chief executive Rolf Breuer more than 3.5 billion euro damages. The indictment is based on a television interview Breuers from 2002 in which he believes the Kirch-side the creditworthiness of the media group doubt, whereupon the creditor banks, the money would While the rooster. Kirch's extensive company had not previously been the doomed, holds the Frankfurt Institute opposed.
In the core of negative replies 1.1 billion claim relates to the one shares package Springer-Verlag, is Germany's largest bank after the Kirch insolvency in 2002 as collateral for a loan was approved fall. The participation was then sold. Kirch would not because of the statements Breuers the money expected to have the Springer package is not an opinion of the Kirch lawyers at low price must be sold. However, the lawyers claim the sum probably better trading hours are calculated: The shares are currently worth less than when sold by Deutsche Bank in 2002. If their complaint now durchgekommen would have Kirch, the bank may even need to transfer money. The aback lawyers made the financial crisis responsible for the burglary, but Pecher judge replied: "That there is a price slump has given all we know." A lawyer of Deutsche Bank even asked to take a break so that "the lawyers time to mathematics" would "
Kirch's legal representatives want in the next two week appeal against the decision and the procedure so that once again roll up. The lawyers of Deutsche Bank analyzed the verdict as a success.
JUDGE TO DOUBT HEGT MORE
Two other cases Pecher will decide in March. In a Kirch's claim for damages of 400 million euros already indicated to the judge that the evidence so far is thin. That was "something very close to everything justified" and "extremely poor".
Also in the next procedure they expressed concerns. It is questionable whether the Kirch specially designed for compensation claims firm KGL pool was serious. "We are really a matter of skeptical," she said. The judge argued that KGL only with a thin capital base equipped and therefore in the event of a defeat for Kirch's not the litigation could arise. KGL pool is a special purpose company, in the insolvent subsidiaries of Kirch Group's former claims for damages amounting to just more than two billion euros have bundled.
Kirch's lawyers, including former Bavarian Minister Peter Gauweiler, now want to submit a written agreement that Leo Kirch, even for all financial liabilities of the KGL Pool her.
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