A week ago Deutsche Bank announced it was setting aside a €1.2bn provision to cover its legal costs but in better news today (8 November), the German banking giant and advisers Freshfields Bruckhaus Deringer claimed victory in fighting off an $8bn claim.
The claim was brought by Sebastian Holdings Inc. (SHI) – the Monaco-based investment firm wholly owned and controlled by Norwegian billionaire Alexander Vik – which alleged that Deutsche Bank put through unauthorised trades on its behalf.
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