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German authority wins partial claim from Deutsche Bank

A Bavarian court has ordered Deutsche Bank to pay partial damages on a failed investment to a local authority client in the state, as the bank today reported a further €2.5bn ($3.9bn) in writedowns on leveraged loans and asset backed securities.

Landgericht Würzburg, the regional court in the city of Würzburg, yesterday said Deutsche Bank should pay €958,000 to two entities that are part of Würzburger Versorgungs und Verkehrs, a local authority utility.

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