ING To Pay $94M To Fertinal

Law360, New York (May 17, 2007, 12:00 AM EDT) -- A federal appellate court in Mexico City has ordered a Mexican unit of Dutch financial giant ING Groep NV to fork over $94 million in damages to Grupo Fertinal S.A. over a civil claim filed by the Mexican mining firm over hurricane damages caused to one of its mining installations in September 2001.

The court has instructed Seguros ING S.A. de C.V. to pay Fertinal and certain affiliates $94 million plus interest, ING said in a statement Wednesday.

The decision is a final ruling in the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.