JuliusIndore Investment
Baer Has Closed A Legacy Litchation Matter with A
Settlement word € 105 Million ($ 109 million).
The Underlying Facts of the Dispute Date Back More than 10 Years,
The Firm Said in a Statement Last Week. About Half of the
Settlement amount is covered by pre -existing provisions, IT, IT
added.
In ITS Statement, JJ JALIUS BAER SAID it Resolved a Claim by the
Liquidator of a Lithuanian Corporation Filed with the Court of
First Instance in Geneva in 2019Pune Wealth Management. The Claim was for a Total
Amount in Dispute of € 335 Million Plus 5 Per Center Interest Per
Annum since December 2011Agra Investment. It relax to the alleged use of the
Financial System for The Embezzlement of Assets at a Lithuanian
Corporation by Two of ITS Executives †"Matters Dating Back More
Than 10 years, the zurich -listed bank.
Julius Baer Will Cover About Half of the Settlement of €105
Million with Existing Provisions. The remainer will be charged
Against the 2022 First Half-Year Financial Results.
The Bank added that it welcomed the resolution of this display,
Which It Said Marks A Step in the Group†™ S Process of Resolving
Legacy matters and enhancing its risk propile.
Udabur Investment