Deutsche Bank Sued Over $23M In Unpaid Swaps

Law360, New York (March 22, 2011, 11:16 PM EDT) -- Investment firm Sterling Stamos Levered Fund Ltd. sued Deutsche Bank AG for $23 million in New York on Tuesday over the bank's alleged refusal to honor swap contracts.

Deutsche Bank has refused to return collateral associated with a series of total rate of return swaps, Sterling claimed in a complaint filed in the Supreme Court of the State of New York, County of New York.

The bank also refuses to make certain obligatory future payments, Sterling claims.

Sterling is an investment firm with offices in Menlo...
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