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Deutsche Bank Wins Dismissal of Warburg Cum-Ex Tax Lawsuit (1)

Sept. 23, 2020, 12:03 PM

M.M. Warburg & Co. lost a lawsuit over whether Deutsche Bank AG should pay a 167 million-euro ($195 million) tax bill related to the Cum-Ex scandal.

The Frankfurt Regional Court on Wednesday dismissed a suit by Warburg, saying Deutsche Bank wasn’t liable for the smaller lender’s taxes. Warburg contended that Deutsche Bank should have transferred the funds to the tax authorities about a decade ago in its role as a custodian for some of the disputed transactions.

But the court said that it might be possible for Warburg to sue another financial institution, ICAP, which sold the shares in the ...

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