ABN Amro To Pay Ageas $497M To End Fight Over Securities

Law360, New York (June 28, 2012, 1:18 PM EDT) -- Dutch state-owned bank ABN Amro Group will pay €400 million ($497 million) to Belgian insurer Ageas SA/NV, successor to Fortis Capital Co. Ltd., to resolve a legal battle over securities issued by Fortis prior to its collapse in 2008, the companies said Thursday.

ABN Amro, which was partially owned by Fortis, was nationalized by the Dutch government as part of a hastily arranged and complicated bailout and breakup of Fortis in 2008. Following the breakup, the disparate parts of Fortis could not agree on whether or...
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