Australia court rejects request to delay epic cartel case against Citi, Deutsche

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An Australian court overseeing a criminal cartel case against Citigroup Inc and Deutsche Bank AG on Tuesday declined a prosecution request to delay proceedings, raising the chances the long-running matter will proceed to trial this year.

) on Tuesday declined a prosecution request to delay proceedings, raising the chances the long-running matter will proceed to trial this year.

But the matter, which has nine defendants including the financial giants and their staff and former staff, has been crawling through the lower court in Sydney since the charges were laid in mid-2018 as defence lawyers question prosecution witnesses to determine the parameters of the complex case. “We’ve reached the point where I have to say enough’s enough,” Magistrate Jennifer Atkinson told the Downing Centre Local Court in a short administrative hearing.Prosecution lawyer Shanaka Jayasuriya told the court the later date would help all parties involved because “the reality is that organising nine separate case conferences is a challenge some of the clients are located overseas”.

 

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