Meinl Bank Sues Atrium for € 1.2 billion

Lifestyle & TravelPersonal Real Estate ♦ Published: November 23, 2010; 14:01 ♦ (Vindobona)

After Atrium instituted proceedings for damages against Meinl Bank before the High Court of Justice in London, Meinl Bank responded with a countersuit.

Meinl Bank Sues Atrium for € 1.2 billion / Picture: © Meinl European Land

The accusation and motive of the lawsuit of Gazit and Citi Property against Meinl refer to systematic damages to Atrium or the legal predecessor, Meinl European Land (MEL). The applicants are the core shareholders of Atrium: Gazit is an Israeli real estate fund and Citi Property is a subsidiary of Citigroup.

The controversy is about stock buybacks by Meinl from the former…