January 9, 2020 / 6:26 AM / 13 days ago

Julius Baer contests renewed claim by liquidator of Lithuanian firm

FILE PHOTO: The logo of Swiss private bank Julius Baer is seen at the bank's headquarters in Zurich, Switzerland February 1, 2017. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Swiss private bank Julius Baer (BAER.S) said on Thursday it was confronted with a renewed claim for 335 million euros (283.8 million pounds) plus interest by the liquidator of a Lithuanian corporation.

The bank has previously been confronted with claims by the liquidator, which said Julius Baer did not prevent two of its clients from embezzling assets of the Lithuanian corporation, an allegation the bank said it “vigorously” contested.

The new court proceeding has been initiated in Geneva, Julius Baer said in a statement, adding that the Lithuanian court of last instance had already rejected the liquidator’s claim in October 2018.

Reporting by Silke Koltrowitz; Editing by Clarence Fernandez

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