German banks Deutsche Bank, HVB (UniCredit) and Commerzbank are suing industrial gas group Linde to recover hundreds of millions of euros lost on a collapsed Russia‑backed project
Executive summary: Deutsche Bank, HVB and Commerzbank filed a legal claim against Linde demanding repayment of guarantees they issued for a Russia‑related industrial gas project that collapsed, seeking the return of hundreds of millions of euros. The suit reveals banks’ exposure to geopolitical fallout from Russia‑linked deals and could affect their quarterly earnings through litigation costs and provisions, while also potentially impacting Linde’s cash flow and reputation in Germany.
Who is involved: Plaintiffs: Deutsche Bank, UniCredit’s HVB subsidiary, Commerzbank; Defendant: Linde; Venue: German courts.
Likely next: The court will schedule hearings; the parties may engage in settlement negotiations; banks are expected to increase provisions for potential losses and monitor the case for any impact on capital allocation.
The lawsuit, filed in German courts, stems from guarantees the banks provided for a Linde‑led industrial gas venture in Russia that failed amid geopolitical tensions. The banks seek restitution of the funds they were liable for, which could amount to several hundred million euros. The case highlights how cross‑border projects expose lenders to political risk and may prompt lenders to reassess exposure to sanctioned jurisdictions.
Timeline
- — Russland‑Projekt: Streit um hunderte Millionen Euro – Deutsche Bank, HVB und Commerzbank verklagen Linde (Handelsblatt)
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