Order Seeks Schrempp’s Testimony in Germany

A New York judge signed an order Wednesday seeking the testimony in Germany of DaimlerChrysler Chief Executive Juergen Schrempp as part of a legal effort to force former New York Stock Exchange Chief Executive Richard Grasso to return at least $100 million in pay.

Schrempp was an NYSE director from 2000 to 2003 and a member of the compensation committee while on the board. A lawyer for Grasso told a New York state judge that Schrempp, who lives in Germany, was “refusing” to come to the United States to answer questions about the case.

State Supreme Court Justice Charles Ramos signed a court order that asks a German judge to grant permission to lawyers involved in the case to take deposition testimony from Schrempp in Germany. The order cites the Hague Convention, which governs international law.

Grasso was ousted from his job running the world’s largest stock market in 2003 after the NYSE disclosed his compensation for the first time. Grasso received more than $190 million in pay and pension benefits during the final eight years of his tenure.

New York Atty. Gen. Eliot Spitzer sued Grasso, the NYSE and former NYSE compensation committee Chairman Kenneth Langone in May 2004 seeking the return of at least $100 million.

A spokesman for DaimlerChrylser, Han Tjan, said Schrempp would answer questions if lawyers secured the approval of a German judge.

“He hasn’t refused to testify at all,” Tjan said. “If they follow the right procedures, they will get the right answers.”