Deutsche Bank Sues Lehman To Recover $72.5M

Law360, New York (November 12, 2008, 12:00 AM EST) -- Deutsche Bank AG has sued Lehman Brothers Holdings Inc., claiming a “simple mistake” led to more than $70 million of the German bank's money getting caught up in the investment giant's bankruptcy.

According to the complaint, filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, Deutsche Bank owed $72.5 million to a counterparty under a certain contract. After Lehman filed its Chapter 11 petition, Deutsche Bank transferred the sum to Lehman instead of the counterparty due to both a clerical error...
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.