Deutsche Boerse Doesn't Plan Provisions After US Judgment on Iran Case

By Adria Calatayud

Deutsche Boerse AG said it doesn't expect to make provisions after a U.S. court awarded judgment to creditors that sought transfer of around $1.7 billion attributed to Iran's central bank, which the company's subsidiary Clearstream Banking SA held in Luxembourg.

The German exchange operator said late Wednesday that the decision doesn't change the overall risk that would require Clearstream or the parent to make provisions. Clearstream is considering appealing the decision, the company said.

Clearstream will consider all relevant interests and responsibilities as to how to deal with the assets while complying with its obligations, Deutsche Boerse said.

In its annual report, Deutsche Boerse said plaintiffs in 2013 filed a complaint in the U.S. against Clearstream and other parties seeking that certain assets attributed to the Iranian central bank be turned over.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

March 23, 2023 02:57 ET (06:57 GMT)

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