The Daily Telegraph reports that a lawsuit filed in New York on Friday alleged that Deutsche Bank, the trustee for $3.6bn of Óleo e Gás's defaulted bonds, engineered a deal that ensured majority noteholders would recover 3.5 times more money than their smaller counterparts.
The bonds were issued by an Austrian subsidiary of Óleo e Gás. The company, owned by former billionaire Eike Batista and formerly known as OGX, filed for Latin America's largest-ever bankruptcy in October.
'This is really a dispute between two bondholder groups that is pending before Brazilian courts', Deutsche Bank said in a statement. 'We believe this suit is without merit, and Deutsche Bank intends to vigorously defend itself'.
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