Deutsche Bank is well acquainted with its lawyers. It faces law suits on multiple fronts, and one of the more tricky ones is a €25 million guarantee it signed in December 2012 for the new Berlin Brandenberg Airport.
Now, over three years later, that document is at the heart of an investigation into corruption and bribery over the as yet unopened airport, which is now embarrasingly over budget and way over schedule.
The guarantee is related to Imtech, the now bankrupt construction company that worked on the Berlin Brandenburg Airport, and which asked the airport operator for a €25 million advance on payment.
Auditors looking into Imtech’s accounts could not find any legitimate reason why Imtech needed the money up front. So Deutsche Bank agreed to take on the risk, guaranteeing a €25 million payment from Berlin Brandenburg Airport to Imtech.