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Update regarding an application received from Deutsche Bank AG

Update on an application received from Deutsche Bank AG

We refer to our update dated 23 August 2018 (Update regarding an application received from the GTA).

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Update regarding an application received from Deutsche Bank AG 26 September 2018

We refer to our update dated 23 August 2018 (Update regarding an application received from the GTA). This update relates to the appeals filed by both the German Tax Authority (“GTA”) and Deutsche Bank AG (“Deutsche Bank”) dated 28 February 2018 against the rejection of their proof of debt by the Joint Special Administrators (together the “Appeals”). A directions hearing in respect of the Appeals is due to be heard in October 2018 before the High Court of England (the “Directions Hearing”).

As previously updated, the Joint Special Administrators received a further application from the GTA, dated 17 August 2018 in relation to the appropriate jurisdiction for the resolution of certain claims between the GTA and MFGUK relevant to the GTA Appeal (the “GTA Jurisdiction Application”). This is to update creditors that the Joint Special Administrators have also received an application from Deutsche Bank AG, seeking a stay of its appeals pending resolution of the issues outlined in the GTA Jurisdiction Application (“DB Jurisdiction Application”). 

Please note that creditors of MFGUK may request copies of the GTA Jurisdiction Application and the DB Jurisdiction Application from the Court. If you have questions or concerns about these applications, please contact the Joint Special Administrators at mfglobalclaims@kpmg.co.uk.

© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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