Kirch-Deutsche Bank dispute rumbles on

A decade-long dispute between the Kirch family and Deutsche Bank looks set to continue after the financial institution decided to opt for a full hearing rather than an out of court settlement.

The legal wrangle dates back to the demise of the Kirch-family’s German pay TV empire and comments made by the then Deutsche Bank chief executive that Leo Kirch, who died last year, said damaged his business, which subsequently collapsed.

A proposed €800 million out of court settlement was mooted, but has now been rejected by the Deutsche Bank board. The Financial Times quotes a Kirch family spokesman as saying that the family was “dumbfounded by the leadership chaos at the bank”.