Commerzbank is suing four banks in the US for $ 2 billion

Commerzbank is suing four banks in the US for $ 2 billion

29.12.2015 News

Commerzbank is suing four banks in the US for $ 2 billionFailure by banks of their obligations under the agreement is a part of the reason for the lawsuits, the amount of which is sometimes measured in billions of dollars, it depends on the losses.

One of the largest financial institutions in Germany  Commerzbank, requires four US banks for damages in the amount of $ 2 billion dollars judicially. The plaintiff appealed to the District Court of New York, demanding to punish US banks for improper fulfillment of obligations.

 Defendants in the case are:  Deutsche Bank National Trust (US subsidiary), Bank of New York Mellon Corp, Wells Fargo, and HSBC Bank USA. The court session will be held in the District Court for the Southern District of New York.

The Commerzbank lawsuit stated on improper performance of the liabilities of banks in transactions. Namely, the calculation of potential risks was not counted; that could prevent the rapid decline in assets.

Commerzbank acquired the securities of banks, which were secured by mortgage assets. All funds were  devalued and have been lost, and Commerzbank believes that the damage has been incurred to them due to the negligence of financial institutions with which it has concluded agreements.

The bank  estimates its losses in such a way:  as a result of cooperation with the US banks in the total amount has been lost about $ 2 billion  that Commerzbank is now trying to return  through the court.

Commerzbank is one of the oldest banks in Germany, which was founded in 1870 by the merger of several private banks. The number of its employees has about 56,221 people. The bank’s profit in the first half of 2015 totaled € 646 million, that is 2.15 times more than the same period last year.

Source: news.rambler.ru

Other articles

  • Germany has threatened to block the Telegram
    News

    Germany has threatened to block the Telegram

    In Germany, Telegram faces a fine of 55 million euros because the company does not have a contact person who would be obliged to communicate with the state to distribute content that violates the law. Der Spiegel reported this. If the company refuses to cooperate with the German authorities, the application may be blocked in […]

  • The National Bank named four factors for the growth of the hryvnia
    News

    The National Bank named four factors for the growth of the hryvnia

    Significant strengthening of the hryvnia against the dollar is due to four main factors. Vasyl Furman, Deputy Chairman of the Council of the National Bank of Ukraine, said this on the air of Ukraine 24 TV channel. “This is primarily an increase in prices in commodity markets, on the one hand, although, on the other […]

  • Ukraine is among the ten countries with the highest earnings on Bitcoin
    News

    Ukraine is among the ten countries with the highest earnings on Bitcoin

    Ukraine is in the top 10 countries with the highest earnings on Bitcoin in 2020 – Ukrainian investors received about $ 400 million in profits on cryptocurrency. The Ministry of Finance with reference to the data of the analytical company Chainalysis reported this. The authors of the rating draw attention to the obvious dominance of […]

  • The US and the EU will end the trade dispute between Boeing and Airbus
    News

    The US and the EU will end the trade dispute between Boeing and Airbus

    Authorities in the United States and the European Union have agreed to end a long-running trade dispute over the aerospace concerns Boeing and Airbus, which has resulted in mutual tariffs of more than $ 10 billion, said Catherine Ty, the US representative at the trade talks. “The US-EU agreement marks significant progress in reaching a […]

  • Microsoft has named the date of “death” of Windows 10
    News

    Microsoft has named the date of “death” of Windows 10

    Microsoft will stop supporting Windows 10 on October 14, 2025. This was reported by the company’s press service. Thurrot writes that this means the date of the “death” of Windows 10. The publication adds that the new generation of operating system, which Microsoft will present next week, will not be called Windows 10, at least, […]

  • First Radisson hotel opens in historic port city of Odesa
    News

    First Radisson hotel opens in historic port city of Odesa

    On the shores of the Black Sea, Radisson Hotel City Centre Odesa opens as Radisson Hotel Group’s 7th hotel in Ukraine in operation and under development. With an excellent location on the famous Derybasivska Street, Radisson Hotel City Centre Odesa unlocks the cosmopolitan city of Odesa, full of architectural styles, international cuisines and beautiful Black […]

  • Nvidia’s merger agreement with Arm could take more than two years because of China
    News

    Nvidia’s merger agreement with Arm could take more than two years because of China

    It may take Nvidia twice as long to get approval for its deal to buy Britain’s largest technology company, Arm Holdings, which is owned by Japanese financial conglomerate SoftBank Group. After the companies announced a $ 40 billion deal last September, the first hurdle was a class action lawsuit from Google, Qualcomm and Microsoft, which […]

  • Tesla has introduced its fastest electric car. The maximum speed of the Model S Plaid exceeds 320 km per hour
    News

    Tesla has introduced its fastest electric car. The maximum speed of the Model S Plaid exceeds 320 km per hour

    The American company Tesla demonstrated on Thursday in Fremont (California) its new electric car Model S Plaid. The presentation, led by Tesla Chairman Elon Musk, was broadcast on the company’s website. According to the businessman, critics have previously pointed out that the updated version of the Model S car will be “insanely fast”, and expressed […]

Read also

Commerzbank is suing four banks in the US for $ 2 billion
News

The WHO hopes to radically change the situation with the coronavirus by March

The World Health Organization expects that by the spring of 2021, the situation in the fight against the coronavirus pandemic could change significantly. The main hope is the invention of vaccine against the disease. This was stated by Adviser to the Director-General of the WHO Bruce Aylward. He noted that by March the situation could […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Things to Consider Before Partnering Up

Savvy entrepreneurs use these strategies to ensure every business partnership is a match made in heaven. Great businesses are founded on great partnerships. But great businesses can also be destroyed by bad partnerships. These entrepreneurs—and members of The Oracles—share their hard-won wisdom about what to watch out for before joining forces with a business partner. […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

EBRD credits the Meest Express on $ 10m

According to Delo.ua, the European Bank for Reconstruction and Development (EBRD) represents the credit to Meest Express  of 10 million dollars on post automatic machine network development. The EBRD press-service informed about it.The postal and logistic operator will have  planned  to increase the share on the Ukrainian market and to develop the existent network until […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Apple’s quarterly revenue broke the record

American gadget manufacturer Apple Inc. in July-September reduced net income to $ 12.67 billion, or $ 0.73 per share, compared to $ 13.68 billion, or $ 0.76 per share, for the same period in 2019. Stock analysts forecast a rate of $ 0.71 per share. Apple’s quarterly revenue grew 1% year on year to $ […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Vaccine problems knock down Johnson & Johnson shares by 14.5%

Johnson & Johnson has found a batch of coronavirus vaccine that does not meet quality standards, the company said. Supplier Emergent BioSolutions at a plant in Baltimore manufactured the batch. This batch was not poured into ampoules and was not admitted to the final stages of production, the report said.   Against this background, shares […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Gasoline went up quietly

Already in the first days of 2017 tariffs on gasoline and diesel fuel have risen slightly. Such data are provided by leading Ukrainian company Consulting Group A-95, which conducts professional study of the market of petroleum products. Prices for gasoline and diesel fuel rose within 1.6%, and liquefied petroleum gas, on the other hand, fell […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Twitter will pay Turkey a fine in the amount of $ 51 thousand

Turkish government for the first time resolved  to apply penalties to the social network Twitter. Recently, Turkey  turned to Twitter with a formal request to delete from the site all the information with an extremist nature, the information that supports  terrorism. Twitter declined the request of the Turkish government and didn’t delete the corresponding positions […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Concorde Capital accuses Kernel of corruption motives when buying the Creative factory

The acquisition of the Creative factory by the company Kernel Group  had a corruption component. Such an opinion was expressed by the expert of the  Concorde Capital investment company, Alexander Paraschiy, according to the  AgroPolit.com. He argues that the deal is profitable for Kernel, but would be a bane for the largest state-owned banks and […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

The National Commission of state regulation of the financial services market

The National Commission, carrying out state regulation of the financial services market by its order №1467 agreed to increase participation by Allianz Holding eins GMBH (Austria) in ODO «Allianz Ukraine” (Kiev) to 99.999% by direct acquisition of 99.978% from its share capital.  As reported, at the beginning of this year, the National Commission, carrying out […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Facebook blocked the Ukrainian community retailer LeBoutique for the use of another’s trademark

A few days ago the official Facebook-community of one of the Ukraine’s largest shopping clubs LeBoutique was unavailable. The community is quite popular; about 35 000 users signed for the page. As reported in AIN.UA shopping club, the community was blocked by administration of the social network for the use of someone else’s trademark. The […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Trump plans to ban Alibaba in the United States

President of the United States Donald Trump is studying the issue of prohibition of Chinese company Alibaba in the US. “Well, yes. We study and other things” – quotes his words the portal. In such way Trump answered for the question of whether the government does not intend to ban the work of other major […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Naftogaz plans to invest billions in production

In the next five years, Naftogaz plans to invest $ 7.3 billion in hydrocarbon production, said Otto Waterlander, the group’s chief executive officer, at a presentation of NJSC’s business strategy. “Over the next five years, our business plan assumes that we will invest $ 7.3 billion in mining, upstream, and double that amount over the […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

$ 100 million: Ukraine is waiting for the first tranche of Switzerland

President of Ukraine Petro Poroshenko said that by the end of January, the state expects financial aid of $ 100 million from the Swiss Confederation, which approved the allocation of this amount of money. Money must be received at the National Bank account. This information was published by Ukrainian portal InVenture. Swiss President Doris Leuthard […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Bayer sells the part of its business

Bayer AG  is going to sell the part of its business  in biotechnologies and productions of cotton  spheres. It is concerned the Crop Science  subsidiary Company. According to Liman Kondon, the company chairman, this industry sphere is money-making.  There is no reason in  finding buyers  to Buyer. The decision was concluded by a pressure of […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Barclays was fined for the record $ 72 million sterling

A few days ago was received a blow to the reputation of one of the five largest deposit banks in England – Barclays. The financial institution was fined by regulators for the amount of 72 million pounds for failing in managing, evaluation and controlling financial risks. According to the supervisory authorities, Barclays made significant mistakes […]

Next
Commerzbank is suing four banks in the US for $ 2 billion
News

Experts predict a low oil price in September

The price of oil in September will remain low, perhaps even a slight decrease from current levels below $ 40 per barrel. In October, the downward trend is likely to be interrupted and a gradual growth will begin, which will accelerate in November and December, according to TASS experts. “There will be no serious drop […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com