Deutsche Bank Triumphs In $8B UK Suit Over Margin Calls

Law360, New York (November 8, 2013, 3:31 PM EST) -- A London judge on Friday tossed billionaire investor Alexander Vik’s $8 billion suit against Deutsche Bank AG, finding that the bank had not breached a contract by executing margin calls and that his fund, Sebastian Holdings Inc., actually owed Deutsche Bank $236 million for the unpaid calls.

Judge Jeremy Cooke of the High Court of Justice upheld Deutsche Bank’s claim that Sebastian Holdings failed to pay a 2008 margin call, finding that Vik had been dishonest in his testimony, fabricated evidence and deliberately contrived false claims...
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