Overview

• Five former executives led by Michele Faissola have lodged claims in London over 2008 transactions tied to Banca Monte dei Paschi di Siena, with Quinn Emanuel representing most of them.
• Named plaintiffs include Faissola, Ivor Dunbar, Marco Veroni, Matteo Angelo Vaghi, and Michele Forresti, and the court is expected to publish the claim document in roughly 90 days.
• The disputes center on repo-to-maturity trades that Deutsche Bank classified as derivatives to permit balance-sheet netting, a treatment later constrained by 2011 rule changes effective from 2014.
• Deutsche Bank and CEO Christian Sewing deny wrongdoing, and Sewing has been called as a witness in both London and Frankfurt but is not a defendant.
• Separately, former manager Dario Schiraldi is suing in Frankfurt for at least €152 million, with an oral hearing set for December 4, and overall exposure has been reported as potentially in the high hundreds of millions of euros.