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Julius Baer is due to lost GDR assets condemned

The Swiss private Bank , Julius Baer is to be obtained from a in the times of the GDR-reaching legal dispute. The Supreme court of Zurich upheld a lawsuit brought by the Bundesanstalt für vereinigungsbedingte sonderaufgaben (BvS) on payment of 97 million Swiss francs, plus accrued interest, as of the asset managers announced in the night on Thursday. Julius Baer wants to challenge the judgment in the Federal court, has, as a precaution, but a provision in the amount of 153 million Swiss francs.

the dispute comes to withdrawals from an account that was set up by former East German officials at the Bank Cantrade, bought by Julius Baer in 2005 from UBS. The BvS is a government authority that attempts, Eastern's assets to regain the lost after the fall of the Berlin wall. (step/reuters)

Created: 05.12.2019, 10:33 PM

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