Thursday, October 22, 2009

Russian Customs Withdraws Suit against Bank of New York

The Russian Customs Service formally withdrew its $22.5 billion Moscow lawsuit against the Bank of New York for allegedly facilitating money laundering by its Russian clients. Apparently, no formal settlement agreement has been certified by the court. However, the bank reportedly agreed to pay $14 million in legal expenses and to grant $4 billion in low-interest loans to unspecified Russian banks.


http://lenta.ru/news/2009/10/22/fts/

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