General Announcement::Development in reported legal case: Julius Baer contests claim filed against it

Issuer & Securities

Issuer/ Manager
JULIUS BAER GROUP LTD.
Securities
JULIUS BAER S$450M5.9%PERPBOND - XS1322369338 - 37KB
JULIUS BAERS$325M5.75%PERPBOND - XS1502435727 - 60KB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
10-Feb-2017 14:00:42
Status
New
Announcement Sub Title
Development in reported legal case: Julius Baer contests claim filed against it
Announcement Reference
SG170210OTHRFRJM
Submitted By (Co./ Ind. Name)
Olivier Staehli
Designation
Corporate Communications
Description (Please provide a detailed description of the event in the box below)
As earlier reported in the annual reports of Julius Baer Group Ltd., Bank Julius Baer & Co. Ltd. ( the Bank ) is confronted with a claim by the liquidator of a foreign corporation arguing that the Bank did not prevent two of its clients from embezzling assets of said foreign corporation. As previously disclosed, in 2013 the liquidator had filed a payment order (Betreibungsbegehren) against the Bank in the amount of CHF 422 million. In this context, the Bank has now been served with a claim from said corporation in liquidation in the amount of EUR 306 million. The court proceeding against the Bank has been initiated in the plaintiff s country of domicile in the European Union. The Bank continues to contest the claim vigorously whilst taking further appropriate measures to defend its interests. As this is a pending legal proceeding, no further information can be provided at this stage.

Attachments

2017-02-10_JuliusBaer_Notice_EN.pdf
Total size =47K