Julius Baer in Legal Battle Over East German Cash


Swiss private bank Julius Baer is fighting German government efforts to recover hundreds of millions in East German cash that vanished via Swiss accounts after the communist state collapsed.


Julius Baer said it had set aside CHF153m (€140m) to fight the case, but vowed to appeal a Zurich court's ruling this week that withdrawals dating back nearly three decades, which the German government contends were illegal, should be returned.


The money is part of a stash allegedly worth hundreds of millions of euros that an East German registered company handled import-export business with the west Vienna based Novum Handelsgesellschaft, helped funnel out of east germany.





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