Deutsche Bank Reaches Billion Dollar Settlement Over Kirch Bankruptcy

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After more than a decade of legal battles, Deutsche Bank on Thursday announced it had reached a settlement with the heirs of late media mogul Leo Kirch that will see the bank pay out more than $1 billion in damages. The bank said it will pay a lump sum of $1.06 billion plus interest and a reimbursement of legal costs to Kirch's heirs, ending the biggest suit in the German media industry.

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