Deutsche Bank Said to Be Close to Settling Kirch Lawsuits
This article is for subscribers only.
Deutsche Bank AG, Germany’s biggest bank, is close to settling litigation over the collapse of Leo Kirch’s media group for more than 900 million euros ($1.2 billion), according to a person with knowledge of the talks.
The bank will pay the businessman’s heirs to end the disputes under the proposed deal, which hasn’t been signed, according to the person, who asked not to be identified because the talks are confidential. Kirch’s heirs are seeking more than 3.3 billion euros in lawsuits against the Frankfurt-based lender.