Daily Management Review

Deutsch Bank Trials May Require Murdoch’s Presence In The Court


08/31/2015


Murdoch of Deutsch Bank could be summoned to the court hearing that has been filed by the late Kirch’s accusation.



Reuters reports states that in the trial against the executives of the Deutsche Bank, the prosecutors demand the presence of “30 additional witnesses” whereby Rupert Murdoch along with chief executive Mathias Doepfner and the publishers Axel Springer and Friede Springer have been summoned by the court.
 
The case against the bank has been filed under criminal allegations, as the prosecutors of Munich are pursuing the law suit. The allegations are made against former and present executive figures of Deutsche Bank by “media magnate” late Leo Kirch’s heirs “in a wake of a civil suit”.
 
The executives are accused of “misleading the court” about the function and the role of Deuscth Bank which resulted in the disintegration of the media empire of Kirch in the year of 2002.
 
On Friday, the prosecutors informed that they would like to make it clear as to whether the executives of Deutsch Bank tried “a mandate to restructure” whereby selling parts of the media empire of Kirch. Moreover, they now want to bring in the executives of rival media companies into the picture by questioning them further, although Axel Springer refrained from giving any comment on the present scenario.
 
The lawyers defending the case on the Deutsch Bank’s side need to prepare themselves for the next hearing which is scheduled to take place on the 22nd of September 2015, whereby they need to come up with a reply to the request. Depending on the reply, the court is to take the final decision of whether the “additional witnesses” are required to come to the court.
 
The former board of Deutsch Bank board members and the present team maintain that they did not commit any “wrongdoing”. Nevertheless, the report of Reuters informs that:
“Leo Kirch, who died in 2011, blamed former Deutsche Bank chairman Rolf Breuer for triggering his group's downfall by questioning its creditworthiness in a 2002 television interview.”
 
In the month of February 2014, the Deutsch Bank entered in a deal to end a “civil suit” which cost the company an amount of “925 million euros” an equivalent of “$1.04 billion”. Kirch’s accusation against Deustch Bank is amongst:
“...Germany's most acrimonious corporate disputes.”
 
 
Source(s): Reuters.com







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