Insurance cover – prospectus liability as regards bankTrelleborg

Aabenraa, Denmark, 2015-06-03 15:53 CEST (GLOBE NEWSWIRE) --

Sydbank will recover the full amount of damages paid to former minority shareholders of bankTrelleborg. 

In 2013 Sydbank paid damages to former minority shareholders of bankTrelleborg due to inadequacies in the prospectus of bankTrelleborg from 2007 for which Sydbank was liable as a consequence of its merger with bankTrelleborg in 2008. Also in 2013 Sydbank received partial compensation for its loss by Fonden for bankTrelleborg which had sold the shares in bankTrelleborg to Sydbank.

Since then Sydbank has been conducting arbitration proceedings against AIG with whom prospectus liability insurance had been taken out as regards the prospectus of bankTrelleborg. The arbitration tribunal has decided that Sydbank will recover the remaining loss that Sydbank has incurred as a result of the prospectus proceedings.

Vedhæftede filer:

FM 20 UK.pdf