Deutsche Bank Says Oleo E Gas Lawsuit 'without Merit'

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Deutsche Bank Says Oleo E Gas Lawsuit 'without Merit'

Deutsche Bank Says Oleo E Gas Lawsuit 'without Merit'
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Deutsche Bank Says Oleo E Gas Lawsuit 'without Merit'

by Wochit 0:38 mins

Deutsche Bank said a lawsuit filed against it in a New York state court by minority bondholders of bankrupt Brazilian oil company Oleo e Gas Participações SA was without merit.The bondholders filed a complaint on Friday against Deutsche Bank as the trustee for $3.6 billion of principal of defaulted notes. Deutsche Bank said in a statement, "This is really a dispute between two bondholder groups that is pending before Brazilian courts. We believe this suit is without merit, and Deutsche Bank intends to vigorously defend itself."

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