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Tokyo Summary Court Consolidates Deutsche Bank Litigation

08-18-2008 03:31 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Deutsche Bank AG

Tokyo, Japan (July 11, 2008) – Today, the Tokyo Summary Court ordered the consolidation of a Deutsche Bank AG lawsuit into an existing lawsuit in Tokyo District Court.

On June 6, 2008, Deutsche Securities Inc., a subsidiary of Deutsche Bank AG, filed a lawsuit against one of its employees in Tokyo Summary Court (Case #13543). David Hatt, CEO of Deutsche Securities Inc., filed to have JPY 912,000 in rental payments (approx. US$8,690) reimbursed to the firm.

Defendant's counsel successfully motioned to have Deutsche Bank’s claim consolidated into Tokyo District Court. Tokyo Summary Court consolidated the claim despite objections from Deutsche Bank.

In Tokyo District Court, Deutsche Securities Inc. is the defendant in a claim for breach of contract between the parties. The breach of contract claim was filed in February 2008 (Case #4109) by Yasushi Higashizawa of Kasumigaseki Sogo Law Office. In this same period, Deutsche Bank unilaterally stopped making payments under the rental contract.

In Tokyo Summary Court, Deutsche was represented by Shiro Muto of Deutsche Securities Inc., Takashi Asai of Dai-Ichi Fuyo Law Office and Naoko Yatabe of Apple Law Office. The defendant was represented by Yasushi Higashizawa of Kasumigaseki Sogo Law Office. 就労請求

David Hatt
Deutsche Securities Inc.
(813) 5156-6002
david.hatt@db.com

Michael Cohrs
Deutsche Bank AG
(4420) 754-56091
michael.cohrs@db.com

About Deutsche Bank AG
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,275 employees in 76 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

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