ABN Amro Holding

1. Securities Class Action Against Fortis Booted

Monday, Feb 22, 2010

A federal judge has thrown out a securities class action against Fortis that accused the international banking and insurance company of misleading investors about its exposure to subprime mortgage-backed securities and its precarious financial state in the lead-up to its planned acquisition of the Dutch commercial banking entity ABN Amro Holding NV.

2. NY Court Keeps Banks' Fraud Suit V. MBIA Alive

Thursday, Feb 18, 2010

A New York court has refused to dismiss a lawsuit in which some of the world's largest financial institutions, including ABN Amro Bank NV and Citibank NA, accuse MBIA Inc. of devising a fraudulent restructuring in order to avoid paying out insurance policies the company offered on financial products.

3. SEC Receiver Sues ABN For Nadel Ponzi Transfers

Tuesday, Feb 16, 2010

The U.S. Securities and Exchange Commission-appointed receiver for the hedge funds of a father-and-son management team that allegedly let Ponzi schemer Arthur G. Nadel run its businesses has sued ABN Amro Bank NV in an attempt to recover more than $500,000 in what the receiver said were fraudulent transfers.

4. EU Approves Netherlands' ABN-Fortis Finance Plan

Monday, Feb 08, 2010

European Union competition officials temporarily approved on Monday a €6.9 billion ($9.5 billion) recapitalization package that allows ABN Amro Bank NV and Fortis Bank Nederland (Holding) NV to complete their long-planned merger, as regulators continue to investigate antitrust concerns related to the Dutch government's takeover of ABN.

5. CIT Group Creditors Show Favor For Ch. 11 Plan

Thursday, Nov 19, 2009

Bankrupt commercial lender CIT Group Inc. has reported a strong showing among various constituencies of creditors in favor of its reorganization proposal, putting the company on a path to win approval for the Chapter 11 plan at a confirmation hearing Dec. 8.

6. Reader's Digest Refutes Trustee's Criticism Of Plan

Thursday, Nov 19, 2009

The Reader's Digest Association Inc. has argued that it should be allowed to continue with its cash management plan, despite a U.S. trustee's concerns that estate money might be kept in institutions that are not authorized depositories.

7. Former SemGroup Exec Consents To Fine In SEC Case

Tuesday, Nov 03, 2009

A former SemGroup LP vice president accused of dumping his shares before the Tulsa, Okla.-based oil services outfit went bankrupt has agreed to pay penalties and interest topping $138,000 as the company nears the end of a messy reorganization.

8. CIT Bails On $2.3B In TARP Funds, Files Prepack Ch. 11

Monday, Nov 02, 2009

CIT Group Inc. has slid into Chapter 11 bankruptcy, an action that will likely cost U.S. taxpayers $2.3 billion and raises questions about the lender’s ability to continue to service a broad swath of the small business and middle-market sectors.

9. 2nd Circ. Blows Over Winter Storm Precedent

Friday, Oct 16, 2009

A federal appeals court has overturned its own precedent in the problematic Winter Storm case, in which it had held that electronic fund transfers processed by an intermediary bank are subject to attachment under the Federal Rules of Civil Procedure.

10. Fortis Investors Fail To Block Insurance Units' Sale

Thursday, Aug 06, 2009

Shareholders arguing that their stakes in Fortis NV were unfairly nixed during a government-led carve-up of the financial giant have reportedly lost a bid to stop the Netherlands from selling off Fortis’ two Dutch insurance units.

11. Amlin To Buy Dutch Fortis Insurance Unit For €350M

Wednesday, Jun 03, 2009

London-based insurer Amlin PLC announced Wednesday that it would acquire Fortis Corporate Insurance NV from the Netherlands, which took control of the company last year, for €350 million ($495 million).

12. GM's Bankruptcy Lures Top-Tier Legal Talent

Monday, Jun 01, 2009

The sheer size and complexity of the General Motors Corp. bankruptcy proceeding already shows every sign of living up to analysts' predictions that the Chapter 11 case will rope in an army of restructuring professionals from around the country.

13. Banks Sue Over MBIA's 'Fraudulent' Corporate Split

Wednesday, May 13, 2009

A group of 18 financial institutions from around the world, including Bank of America NA, Citibank NA and JPMorgan Chase Bank NA, has alleged that MBIA Inc. defrauded policyholders when the bond insurer split its public finance and structured finance insurance businesses earlier this year.

14. Shareholder Group Sues Over Fortis Nationalization

Friday, Apr 24, 2009

A group representing Fortis NV shareholders has reportedly sued the Dutch state for allegedly hurting investors during the nationalization of Fortis Bank Nederland.

15. EU Probes Dutch Aid To Fortis Amid Economic Crisis

Wednesday, Apr 08, 2009

The European Commission has launched an investigation into whether the Netherlands violated European rules for using state aid in its efforts to prop up Fortis Bank Nederland during the financial crisis by providing massive loans with too-low interest and overpaying for ABN Amro's Dutch banking operations.

16. L.I.D. To Rework Disclosure Statement

Wednesday, Aug 20, 2008

A bankruptcy judge agreed Wednesday to a proposal by diamond jewelry maker L.I.D. Ltd. to make changes to its liquidation plan and disclosure statement, though he expressed initial reservations about some of the revisions being discussed by L.I.D. and its lenders.

17. Irish Ritchie Funds File Chapter 11 Plans

Thursday, Jun 12, 2008

Five months after a bankruptcy court approved their $452.5 million sales, two Irish investment companies established by Ritchie Capital Management LLC have each filed Chapter 11 plans, predicting limited recovery for creditors holding general unsecured claims.

18. Fabrikant Wins Approval Of Liquidation Plan

Thursday, May 15, 2008

A bankruptcy judge has approved M. Fabrikant & Sons Inc.’s liquidation plan, clearing the way for the bankrupt jewelry wholesaler to wrap up its Chapter 11 case.

19. Fabrikant Creditors Rebuff Banks' Objections

Tuesday, Apr 29, 2008

Creditors of bankrupt diamond wholesaler M. Fabrikant & Sons Inc. rebuffed objections to the company's latest proposed Chapter 11 liquidation plan on Monday, saying that the plan does not need to leave room for the lenders to recover fees and expenses in an adversary dispute with the creditors.

20. Banks Object To Fabrikant Liquidation Plan

Friday, Apr 25, 2008

A group of lenders has objected to M. Fabrikant & Sons Inc.'s latest proposed Chapter 11 liquidation plan, saying that if approved, it would prejudge a dispute between the lenders and the company's creditors.