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Business

German Industrialists Go Head to Head in Court

A court in Munich on Tuesday began hearing the case of a former media giant versus a former banking giant. Leo Kirch, the former owner of the bankrupted media concern KirchGroup is suing the former head of Deutsche Bank, Rolf Breuer. Kirch claims comments Breuer made in a television interview earlier this year led to the collapse of his company -- and he is suing for 100 million euros in damages. “That (interview) was the death blow for the KirchGroup,” Kirch’s attorneys argued in Munich, referring to doubts Breuer expressed publicly regarding Kirch's credit worthiness. According to a Munich court, Breuer did not respect banking secrecy agreements in giving the interview, but it is still unclear whether the former bank president would have to pay damages. Neither Kirch nor Breuer was present in court, but were represented by their lawyers. The Court is expect to announce its decision on February 18.