Lehman Brothers - Deutsche Bank

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Deminor launched legal proceedings in July 2009 before the Commercial Court of Brussels against Deutsche Bank, in order to get the full compensation of the losses incurred by investors who subscribed Lehman Brothers notes through the intermediary of Deutsche Bank.

 

On 13 February 2010, Deutsche Bank has proposed to its clients (i) to sell their Lehman Brother notes at the price at which they are traded on the secondary market and (ii) to compensate them only if at the closing of the insolvency proceedings, the realisable value of these notes is higher than the initial sale price.

 

Deminor does not consider this as a "settlement offer" but merely as a gesture of Deutsche Bank to act as an intermediary for the sale of their clients' notes at market value. Deminor will therefore follow up for its clients the proceedings before the Commercial Court of Brussels initiated in July 2009.

 

Deminor has recently been informed of the decision of the Brussels public prosecutor to file a criminal lawsuit against Deutsche Bank and potentially its directors. Once the filing of the lawsuit by the public prosecutor against the company before the Brussels criminal court will be done, Deminor will actively examine all facts and documents that may become available through the criminal case, and consider how to exploit these in the framework of its civil action for damages.