A lawyer's dream

摘要

German steel distributor Klockner & Co confirmed this week that it has received a statement of claim filed by Balli Group against Klockner & Co, but said Balli's arguments were based on false claims. It suggested that Balli may be trying to distract attention from illegal actions carried out by former Klockner executives. Klockner added that it has never been involved in any talks with Deutsche Bank and New York funds group PWG, which allegedly were approached by Balli for a loan amounting to as much as 400m dollars. Meanwhile, the Dusseldorf prosecutor has confirmed that the 120m euros missing from Klockner's account was in fact used to finance its takeover by Balli.