COLOGNE, Germany -- Rolf Breuer, the former CEO of Deutsche Bank, is set to testify in Bavarian state supreme court Wednesday on his role in the bankruptcy of German media empire KirchGroup. The trial centers around comments Breuer made in February 2002, in which he questioned KirchGroup's credit-worthiness. At the time, Deutsche Bank was one of KirchGroup's main creditors. KirchGroup, unable to secure new loans, collapsed under a mountain of debt two months later. Company founder Leo Kirch subsequently filed a €100 million ($114.6 million) suit against the Deutsche Bank CEO, claiming Breuer had sabotaged KirchGroup by revealing bank secrets. In February, a Munich state court ruled in Kirch's favor. Breuer appealed, leading to the new court hearing. Also expected to testify in the case are KirchGroup deputy CEO Dieter Hahn; Albrecht Schmidt, supervisory board chairman of Kirch creditor HypoVereinsbank; and ProSiebenSat.1 chief financial officer Lothar Lanz. A ruling on the case is expected before the end of the year.
- 11/4/2003
- The Hollywood Reporter - Movie News
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