Julius Baer contests the claim against Lithuanian liquidator

On 8 January 2020, Bank Julius Baer has been served with a renewed claim by the liquidator of a Lithuanian corporation in the amount of €335m plus 5% interest since December 2011. This time, the court proceeding against the Bank has been initiated in Geneva. As reported in previous annual reports of Julius Baer Group, the Bank has repeatedly been confronted with a claim by the liquidator of a Lithuanian corporation arguing that about ten years ago the Bank did not prevent two of its clients from embezzling assets of said Lithuanian corporation. As previously disclosed, the liquidat...