Kirch Files 1.2 Billion Euros Lawsuit

FRANKFURT, June 14: Fallen German media mogul Leo Kirch has
filed a lawsuit against Deutsche Bank and its former chief executive, Rolf
Breuer, seeking 1.2 billion euros in damages over comments made about the now
defunct Kirch Media empire.

Kirch’s suit stems from comments made by Breuer, then CEO of
Deutsche Bank, in a television interview in February 2002, when he questioned
the credit worthiness of the Kirch empire, saying: “Everything that you can
read and hear about [Kirch] is that the financial sector isn't prepared to
provide further'' loans or equity. Two months later, the Kirch group filed for
bankruptcy. Leo Kirch maintains that Breuer’s comments to Bloomberg News
directly impacted the company’s ability to raise enough funds to keep the
company afloat.

A spokesman for Deutsche Bank told Bloomberg News today: “Mr.
Kirch needs to prove that the interview was the reason for the demise of his
company, which is just not true. With these suits he is just trying to divert
the public away from his own responsibility for the breakdown.''