G8 v Deutsche Bank

U.S. District Court Southern District of New York (Foley Square) CIVIL DOCKET FOR CASE #: 1:13-cv-07734-AKH

Assigned to: Judge Alvin K. Hellerstein
Demand: $9,999,000
Cause: 28:1332oc
Diversity-Other Contract
Date Filed: 10/31/2013
Jury Demand: Plaintiff
Nature of Suit: 190 Contract: Other
Jurisdiction: Diversity

G8 Capital filed suit against Deutsche Bank, with whom it had an extensive business history, seeking $25 million in damages. The complaint alleges Deutsche Bank wrongly cut G8 out of a deal that G8, seeking capital or a joint venture, had brought to Deutsche Bank in the first place.

Deutsche Bank responded with the legal equivalent of a sneer of contempt, dismissively brushing off G8's suit point by point and ending by invoking the doctrine of in pari delicto against G8's claim.

From the New York Court of Appeals:

The doctrine of in pari delicto mandates that the courts will not intercede to resolve a dispute between two wrongdoers. This principle has been wrought in the inmost texture of our common law for at least two centuries…. The doctrine survives because it serves important public policy purposes. First, denying judicial relief to an admitted wrongdoer deters illegality. Second, in pari delicto avoids entangling courts in disputes between wrongdoers. … "[N]o court should be required to serve as paymaster of the wages of crime, or referee between thieves. Therefore, the law will not extend its aid to either of the parties or listen to their complaints against each other, but will leave them where their own acts have placed them."

In other words, G8 Capital is like the heroin addict who calls the cops when his dealer rips him off and wants the cops to go get his heroin back for him.

As of this writing, there hasn't been a document filed in the case in over a year. The last docket entry was Nov 6, 2014.

This is also the place where G8 refers to distressed loans as "opportunities" and counts as an asset "good and valuable" connections inside a bank, which in turn prompted prompted my FOIA requests to the Fed Rsrv Brd and FDIC.

Here are documents from that case.