Sabadell Clinches €405 Million Victory in Property Deal Case

Spanish bank Sabadell successfully won a major lawsuit against Cerberus Capital Management, receiving over 405 million euros including interest, related to a property deal involving Spanish real estate assets. Judge Andrew Baker ruled in favor of Sabadell in London's High Court, dismissing Cerberus's counterarguments.

In a significant legal triumph, Spanish bank Sabadell emerged victorious against Cerberus Capital Management in a London court on Wednesday.

The dispute centered on a property deal concerning Spanish real estate, with Sabadell alleging that Cerberus was liable for millions under agreements from 2018 and 2019.

Judge Andrew Baker ruled in favor of Sabadell, entitling the bank to 358.5 million euros, with additional interest bringing the total to over 405 million euros. Cerberus's counterclaims were dismissed.

(With inputs from agencies.)