Deutsche Bank says Monte Paschi damages claim "without merit"
MILAN, March 13
MILAN, March 13 (Reuters) - Deutsche Bank said on Wednesday damage claims filed by Italy's Monte dei Paschi di Siena over a derivative trade were "entirely without merit", vowing to defend itself vigourously.
A judicial source told Reuters last week the world's oldest bank was seeking at least 500 million euros in damages from Deutsche Bank and two former Monte dei Paschi executives over a loss-making 2008 trade known as "Santorini".
"We will defend ourselves vigourously against any claims for damages made by the client before the Tribunal of Florence," Deutsche Bank said in a statement. (Reporting By Silvia Aloisi; Editing by Lisa Jucca)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Doctor who worked in Africa first Ebola case in New York City |
- Exclusive: Charred tanks in Ukraine point to Russian involvement
- Ground offensive against Islamic State months away in Iraq: U.S.
- U.S. stock futures tumble on reports of NY Ebola case