German court orders Deutsche Bank to pay Kirch heirs

14th December 2012, Comments 0 comments

A German court on Friday ordered Deutsche Bank, Germany's biggest bank, to pay damages to the heirs of late media mogul Leo Kirch in a long-running legal battle over the collapse of his corporate empire.

The regional appeals court in the southern city of Munich said Deutsche Bank must pay compensation after its former chief, Rolf Breuer, openly questioned Kirch's creditworthiness in a television interview in 2002.

Kirch, who died in 2011, insisted that Breuer's comments led to the collapse of his once powerful media empire and sued the bank for compensation.

The court on Friday said the exact amount of compensation would be determined by experts.

It also ruled that Deutsche Bank would not be allowed to appeal its decision.

Earlier this year, Deutsche Bank ruled out a possible out-of-court settlement with Kirch's heirs.

© 2012 AFP

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