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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.