HOW TO SERVE LEGAL PAPERS ON DEUTSCHE BANK

Deutsche Bank

By Akanksha A. Panicker

Deutsche Bank was founded in 1870 to finance German trade with other countries and to help the German economy export sector. The bank’s economic paradigm continues to contribute to the growth of its manufacturing sector, as it assists the industry with short-term financing. 

Banking services of all sorts are particularly mentioned in the company’s statutes as an important part of the company’s goal, including facilitating and promoting exchange between Germany, other European countries, and the rest of the world.

Three of the founders also founded Siemens & Halske.   Prior to the merger with Deutsche Bank, German exporters and importers had to rely on banks in the UK and France, as English and French bills had an unfavorable reputation abroad. 

[1.0] HOW DOES THE BANK WORK

The bank’s business model is made up of three layers: the Corporate, Investment, and Commercial banks (CIMB); The bank’s model stands on three legs: [A.]  the Corporate & Investment Bank (CIB), [B.]  the Private & Commercial Bank and [C.] Asset Management (DWS)

The bank has been experimenting with increasing its reach, adopting a series of new measures including [A.] introduction of novel corporate bank business, focusing on the Company, to deal with the multinational banking transaction and business in Germany, [B.] sizing down equity, trade and customer transfers (specifically to BNP Paribas) as well as considering cutbacks included in fixed income transactions, [C.] transfer to the Current Capital Release Unit (CRU) to commence winding down more than two hundred billion euros which tally around twenty percent of the leverage sector exposure, and around seventy-five billion euros of risk-weighted reserves (RWA,) [D.] to lay off a majority of whole-time jobs in full by 2022 [E.] technological and control improvement and [F.] change in the organization of management.

[1.1] CORPORATE & INVESTMENT BANK (CIB)

The Corporate & Investment Bank (CIB) is Deutsche Bank’s capital markets business. The CIB comprises the below six units. 

  1. Corporate Finance is responsible for advisory and mergers & acquisitions (M&A).
  2. Equities / Fixed Income & Currencies. These two units are responsible for the sales and trading of securities.
  3. Global Capital Markets (GCM) is focused on financing and risk management solutions. It includes debt and equity issuances.
  4. Global Transaction Banking (GTB) caters to corporates and financial institutions by providing commercial banking products including cross-border payments, cash management, securities services, and international trade finance.
  5. Deutsche Bank Research provides analysis of products, markets, and trading strategies.

[1.2] PRIVATE & COMMERCIAL CLIENTS 

Deutsche Bank is an internationally recognized name. However, it also provides major financing for retail services. It is operated by two different brands in Germany: Deutsche Bank and Postbank, respectively, with major business, also being conducted in Belgium, Italy, Spain, and India. The divisions of the Bank in Poland and Portugal are working on the divestment of their assets presently.

Wealth management as a separate service serves high-net-worth households globally people and families. the corporation is prominent in the world’s offshore banks and tax havens. These would also include the world’s private banking hotspots in Switzerland, Luxembourg, the Channel Islands, the Caymans, and Dubai

[1.3] DEUTSCHE ASSET MANAGEMENT (DWS)

Until March 2018, DWS Group (Deutsche Asset Management) was a majority-owned subsidiary of Deutsche Bank. The group renamed itself to DWS Group GmbH & Co. KGaA (DWS) and entered as a significant player in the German economic scene in its own right after it became a separate entity through an initial public offering on the Frankfurt Stock Exchange.

[2.0] RULES OF PROCESS THAT GOVERN DEUTSCHE BANK

The New York statutes governing foreign for-profit corporations, LLCs, LPs, and LLPs doing business in New York do not define what constitutes doing business in New York. These New York statutes instead provide a non-exclusive list of activities that are not considered doing business in New York, including [A.] maintaining, defending, or settling any action or proceeding, whether judicial, administrative, or arbitrative; [B.] settling any claims or disputes;[C.]holding meetings of directors, shareholders, members, managers, or partners; [D.] maintaining bank accounts; and [E..] maintaining offices or agencies for the transfer, exchange, and registration of the foreign entity’s securities or equity interests, or appointing and maintaining trustees or depositaries with relation to its securities or equity interests. This can be quite confusing for servers to properly enact New York City Process Service. However, the Department of State retains details of entities incorporated in New York.

In New York, Deutsche Bank and its subsidiaries conduct business as per different entities registered with the Department of State.  Each different entity of the bank has a specific function that it espouses, which is important for the purposes of New York City Process Service. Different subsidiaries have had to incorporate themselves with the Department of State, which would include providing information as to the names and addresses of officers, shareholders, or directors of nonprofessional corporations. It must be remembered for purposes of New York City Process Service that this information is not recorded and can only be availed by viewing that particular certificate. Consequently, New York City Process Service must be entity-specific in order to be processed correctly.

  1. DEUTSCHE BANK AMERICAS FOUNDATION

Deutsche Bank Americas Foundation is a domestic not-for-profit corporation active in  New York. The Foundation supports organizations involved with the environment, health, employment, affordable housing, disaster relief, human services, youth, minorities, women, immigrants, and economically disadvantaged people. Special emphasis is directed toward programs designed to encourage sustainable community development; promote wider access to quality education; and foster the arts to enrich areas where Deutsche Bank does business.

If necessary, the Department of State is empowered to accept New York City Process Service on behalf of the entity, given the power upon the filing of the incorporation with the state. 

New York City Process Service on a registered agent may be made in the manner provided by law for the service of a summons. This procedure acts as if the agent was a defendant and thus fulfills New York City Process Service upon the agent. However, unlike most other subsidiaries of the Deutsche Bank, Deutsche Bank America does not have a registered agent.  New York City Process Service can be done upon a domestic or authorized foreign corporation, limited liability company, limited partnership, or limited liability partnership, although this New York City Process Service usually requires that two copies of the process be personally served on the New York Secretary of State or any person authorized by them at the Office of the New York Department. The Department of State will mail the process to the entity at their offices if they accept New York City Process Service on behalf of the entity. 

If New York City Process Service is levied on the Secretary of State as an agent of a domestic corporation an authorized foreign corporation, this service is only acceptable by personally delivering to and leaving with the Secretary of State or their deputy,  the requisite documents. At the office of the department of state in the city of Albany, it is necessary to provide duplicate copies of such New York City Process Service together with the statutory fee, which fee shall be a taxable disbursement in order to complete service. The Secretary of State shall promptly send one of such copies by certified mail, return receipt requested, to such corporation, at the post office address, on file in the Department of State, specified for the purpose of New York City Process Service.

  1. DEUTSCHE BANK INSURANCE AGENCY INCORPORATED

Deutsche Bank Insurance Agency Limited comes under Dutchess, Maryland jurisdiction. The entity performs the function of a foreign business corporation. New York City Process Service should see that the company has been qualified or registered in New York if they hold a business that was established in even a state apart from New York.  Compliance with the requirements for foreign incorporation can help qualify the Limited Liability Company (LLC) in New York for doing business.

In New York, the company is understood to be a foreign LLC if the LLC is in another nation. In other terms, foreign does not imply international. Rather, it implies that the rules of another state are in place for the company. In the state where it is doing business, on the other hand, a domestic LLC is created. Section 311(1) of the CPLR regarding New York City Process Service provides that personal service upon a foreign or domestic corporation must be made by delivering the summons ‘to an officer, director, managing or general agent, or cashier or assistant cashier or to any other agent authorized by appointment or by law to receive service.’

The Deutsche Bank Insurance Agency has a registered agent upon whom New York City Process Service may be filed. Separate to service on this agent, the Department of State also will mail the process to their New York address if New York City Process Service was accepted on their behalf. 

Additionally, New York City Process Service can be enacted on authorized representatives of the company. The key figures in the company may be determined by their signatures and particulars as seen in the initial documents for incorporation.  Deutsche Bank Insurance Agency is a substantial subsidiary, with multiple branches. New York City Process Service should not be enacted upon a secondary branch but should be addressed to their Principle Executive Office.

  1. DEUTSCHE BANK SECURITIES INC.

Deutsche Bank Securities Inc. forms one of the earliest subsidiaries as registered in New York. Deutsche Bank Securities Inc. offers investment advisory services. The Company provides financial planning, portfolio management, asset allocation, risk tolerance, and pension consulting services. Deutsche Bank Securities Inc. is a wholly-owned subsidiary of DB U.S. Financial Markets Holding Corporation. The company is registered as a securities broker-dealer and investment advisor with the Securities and Exchange Commission (SEC), and as a futures commission merchant (FCM) with the Commodities Futures Trading Commission (CFTC). As an indirect subsidiary of DBUSA, the company is indirectly subject to the regulatory oversight of the FRB.

The initial application to the DOS was done as early as January 19th, 1972. The subsidiary sees its New York County as its main area of operations, though its main jurisdiction comes under Delaware for purposes of New York City Process Service.

  1. DEUTSCHE BANK TRUST CORPORATION

Deutsche Bank Trust corporation was filed with the DOS on May 12th, 1965, with New York jurisdiction. The entity is considered a domestic business corporation. For process servers, New York City Process Service can be levied at their address for the DOS process. New York City Process Service can be done at their principal executive office or upon their registered agent, CT Corporation System.  

  1. DEUTSCHE BANK AMERICAS HOLDING CORP

Deutsche Bank Americas Holding Corp is a foreign business corporation. While the Principle Executing Office, as well as the DOS Process Address, is situated in New York, the overarching jurisdiction for the Corporation in Delaware. A foreign corporation that is currently doing business or that has previously done business in New York State must obtain the tax commissioner’s consent to the filing of the application in addition to the other requirements. 

Since the status of Deutsche Bank Americas Holding Corp is necessary, it is important for purposes of New York City Process Service to get the consent of the tax commissioner is a statement verifying that all tax returns due have been filed and all taxes due have been paid. The registered agent for Deutsche Bank Americas Holding Corp is CT Corporation System.

New York City Process Service will be effective on the date the papers are received by the Department provided that one has complied with all statutory requirements for the effectuation of service. Recently, The House Financial Services Committee and the House Intelligence Committee subpoenaed Deutsche Bank AG and Capital One Financial Corp. in 2019 in an attempt to determine the records of the erstwhile President. Despite upholding the directive and ruling in favor of Congress’s power to seek evidence from the president, the Supreme Court still admonished a  lower appeals court, citing that they failed to adequately consider s the demands as unnecessary and intrusive.

The Bank after the January 6th riot at the Capitol has distanced itself from the erstwhile President. Currently, the Frankfurt-based bank is owed more than USD 300 million. The subpoenas expired with the end of the 116th Congress on Jan. 3 and were to be reissued. The House had dropped the Capital One subpoena and narrowed the categories of records demanded from Deutsche Bank.

Despite dealing with significant financial difficulties over the past few years, the 150-year-old Deutsche Bank has been attempting to energize its robust banking system by unveiling a new restructuring that aims to render the business its radical transformation. 

For more information on serving legal papers, contact New York City Process Service (800) 774-6922. Representatives are available Monday-Friday 8 am – 8 pm EST.  If you found this article helpful, please consider donating.  Thank you for following our blog, A space dedicated to bringing you news on breaking legal developments, interesting articles for law professionals, and educational material for all. We hope that you enjoy your time on our blog and revisit us!  We also invite you to check out our Frequently Asked Questions About Process Servers.

Sources

1. DOS ID #:1048778

Initial DOS Filing Date: JANUARY 08, 1986

2. New York Consolidated Laws, Not-For-Profit Corporation Law – NPC § 306. Service of process

3. One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231.

4. DEUTSCHE BANK AMERICAS FOUNDATION
130 LIBERTY STREET, 10TH FLOOR
NEW YORK, NEW YORK, 10006

5. N.Y. C.P.L.R. § 311

a) Personal service upon a corporation or governmental subdivision shall be made by delivering the summons as follows:1. upon any domestic or foreign corporation, to an officer, director, managing or general agent, or cashier or assistant cashier or to any other agent authorized by appointment or by law to receive service. A business corporation may also be served pursuant to section three hundred six or three hundred seven of the business corporation law. A not-for-profit corporation may also be served pursuant to section three hundred six or three hundred seven of the not-for-profit corporation law;

6. Registered Agent

C T CORPORATION SYSTEM

28 LIBERTY ST.

NEW YORK, NEW YORK, 10005

7. DOS Process (Address to which DOS will mail process if accepted on behalf of the entity)

DEUTSCHE BANK INSURANCE AGENCY INCORPORATED

28 LIBERTY STREET

NEW YORK, NEW YORK, 10005

8. Chief Executive Officer

SAMUEL PETRUCCI

60 WALL STREET

NEW YORK, NEW YORK, 10005

9. Principal Executive Office

DEUTSCHE BANK INSURANCE AGENCY INCORPORATED

ONE SOUTH STREET

BALTIMORE, MARYLAND, 21202

10. DOS ID #: 321961

11. Chief Executive Officer

ANDREW GALLIVAN

345 PARK AVENUE

12.NEW YORK, NEW YORK, 10154

 DEUTSCHE BANK TRUST CORPORATION

28 LIBERTY STREET

NEW YORK, NEW YORK, 10005 

13.Principal Executive Office

DEUTSCHE BANK TRUST CORPORATION
60 WALL STREET
NEW YORK, NEW YORK, 10005

14.Registered Agent

C T CORPORATION SYSTEM
28 LIBERTY ST.
NEW YORK, NEW YORK, 10005

15.DOS Process (Address to which DOS will mail process if accepted on behalf of the entity)

DEUTSCHE BANK AMERICAS HOLDING CORP.
28 LIBERTY ST.
NEW YORK, NEW YORK, 10005

16. Trump v. Deutsche Bank, 19-cv-03826, U.S. District Court, Southern District of New York. Trump v. Mazars USA, LLP (591 U.S. ___ (2020)) was the US Supreme Court case involving subpoenas issued by committees of the US House of Representatives to obtain the tax returns of President Donald Trump, who had litigated to prevent although the committees had been cleared by the United States Court of Appeals for the District of Columbia Circuit. It was consolidated with Trump v. Deutsche Bank AG (591 U.S. ___, docket 19-760). In a 7–2 landmark decision issued on July 9, 2020, the Supreme Court vacated the Circuit Court’s decision by ruling that it had not properly considered the separation of powers concerns between Congress and the president.

This entry was posted in Process Service on by .

BLOG DISCLAIMER

The information contained herein has been prepared in compliance with Section 107 of the Copyright Act. Fair use is a legal doctrine that promotes freedom of expression by permitting the unlicensed use of copyright-protected works. The articles/Images contained herein serve as criticism, comment, news reporting, teaching, educational, and research-as examples of activities that qualify as fair use. Undisputed Legal Inc. is a Process Service Agency and “Not A Law Firm” therefore the articles/images contained herein are for educational purposes only, and not intended as legal advice.