ING's money can't buy relief in Barings case

Article Abstract:

ING Groep NV's proposed settlement, which consists of infusing over $33 million to a fund, to end a fight with bondholders of the old Barings PLC collapsed. This means that ING, along with auditors, insurers and former Barings directors who gave their share to the fund, could get their money back. It is unclear whether ING would again provide money to a similar fund as the next phase of the Barings story unveils. Barings was acquired by ING in 1995 after the British Bank crumbled from derivative losses of $1.33 billion, which were incurred by Singapore-based trader Nick Leeson who was eventually imprisoned for illegal trades.

Comment:

A proposed settlement, which consists of infusing over $33 mil to a fund, to end a fight with Barings bondholders collapsed

Netherlands, Securities Brokerage, Securities Trading, Securities industry, ING Groep N.V.

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Tobacco talks to resume after Massachusetts quits

Article Abstract:

Tobacco manufacturers and several US state attorneys are set to continue settlement negotiations during the week of September 6-12, 1998. However, one of the nine states involved in the negotiations, Massachusetts, has withdrawn from the talks. The state claimed that the tobacco companies were being intransigent in their positions. RJ Reynolds Tobacco Co. and Brown & Williamson Tobacco Corp. withdrew from the talks in August 1998.

Comment:

Mass: Massachusetts withdraws from settlement talks between tobacco cos and state attorneys; talks to continue

Massachusetts, Tobacco Products, Tobacco Manufacturing

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An internal memo written 26 years ago is costing GM dearly; revelations fan settlement in fuel-tank fire case; huge sums now at risk; a jury comes away livid

Article Abstract:

General Motors Corp has reached a tentative settlement in a personal injury lawsuit concerning a fuel-tank fire. An internal memorandum written 26 years previously at General Motors was a crucial piece of evidence in the case.

United States, Legal issues & crime, Automobile Manufacturing, Auto Fuel & Lubricating Systems, Gasoline Engine and Engine Parts Manufacturing, Domestic-Make Autos, Automobile equipment and supplies industry, Automotive parts industry, Cases, Automobile industry, General Motors Corp., Domestic cars

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