Spanish hotel – lawsuit against Deutsche Bank – economy

The Spanish hotel chain Palladium bought Deutsche Bank, according to a report by Financial Times sued for € 500 million in damages in connection with the sale of foreign currency derivatives. According to the newspaper report, the lawsuit was filed in London last month. At the beginning of the year it became known that Deutsche Bank had launched an internal investigation into relationships with some of its customers in Spain. It is about the sale of complex financial products. The investigation is also so uncomfortable for the institute because business will probably continue until 2019 and 2020. During this time, CEO Christian Sewing was responsible for investment banking on the Board of Management. Deutsche Bank now wants to defend itself against the lawsuit from Spain.