Pursuits
Vik Owes $250 Million to Deutsche Bank, Even More to His Father
- Deutsche Bank seeking its legal costs after Vik lost lawsuit
- Norwegian Vik appears in London court to give evidence
This article is for subscribers only.
Norwegian entrepreneur Alexander Vik showed up in a London court Friday to fight a claim that he hid assets to avoid paying more than $250 million in legal fees to Deutsche Bank AG, saying that he owes double that to his own father.
The 60-year-old denied that he sold off business interests, dissolved companies and resigned from a trust in a bid to prevent the bank from reclaiming costs after it beat his Sebastian Holdings Inc. in a lawsuit two years ago. He was seeking $8 billion over trading losses. Vik now owes about $280 million after interest accrued at 8 percent a year.