Deutsche Bank's Contempt Fight With Billionaire Gets OK

Law360, London (December 21, 2020, 3:41 PM GMT) -- A London judge on Monday dismissed Monaco-based billionaire Alexander Vik's attempt to have Deutsche Bank's application for his committal to prison struck out, concluding the bank is entitled to take the step as it tries to recover $300 million in debt.

Judge Sara Cockerill said that the bank's decision to launch committal proceedings against Vik over his alleged failure to provide information about his assets was justified, as the threat could help the bank trace the $300 million that a court found Vik and his former fund Sebastian Holdings Inc. or SHI, owed the lender in 2013.

"The motivation for the...

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