Deutsche Bank Seeks Compensation From Ex-CEO In Kirch Case

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Deutsche Bank Seeks Compensation From Ex-CEO In Kirch Case

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Deutsche Bank Seeks Compensation From Ex-CEO In Kirch Case

by Wochit 1:00 mins

Deutsche Bank Seeks Compensation From Ex-CEO In Kirch Case

by Wochit 1:00 mins

According to a report in the newspaper Die Welt, Deutsche Bank will seek compensation from former chief executive Rolf Breuer for a costly out-of-court settlement reached earlier this year with the heirs of the Kirch media empire. The bank's supervisory board this week decided to seek compensation from Breuer, the newspaper reported, adding that the bank still expected to pay most of the settlement itself. "The large part of the settlement will definitely stay stuck with the bank," the paper said, quoting a person familiar with the supervisory board discussions. A Deutsche Bank spokesman declined to comment on the report. Attempts to contact a spokesman for Breuer were unsuccessful. Deutsche needs to seek compensation from Breuer before so-called directors and officers' liability insurance can play a role in covering some of the settlement charges.

Wochit