Deutsche Bank Wins London Compensation Suit against Sebastian Holdings
The Wall Street Journal
Cahill also assisted Deutsche Bank’s barristers and solicitors in their representation of Deutsche Bank in the substantially identical action between the parties in the Commercial Court in London. Deutsche Bank commenced the London action against Sebastian Holdings to recover money owed as a result of its trading losses. In that case, Sebastian Holdings also asserted by way of counterclaim the same claims asserted in New York, seeking billions of dollars of damages from Deutsche Bank.
After a four month trial, the English Court entered a final judgment in Deutsche Bank’s favor on On November 8, 2013. Relying heavily on favorable rulings obtained by Cahill in the New York courts, the English Court rejected all of Sebastian Holdings’ counterclaims seeking $8 billion in damages, and awarded judgment in favor of Deutsche Bank in the amount of $235 million.