The successors of WestLB
AG have sued the British bank for allegedly misleading the failed German lender in a 2007 derivatives investment.
Mellon Asset Management was formed in early 2006 as a 50:50 joint venture between BNY Mellon and Portigon.
Today's result represents an encouraging start to the bidding process for WestLB
, which runs in parallel to the ongoing potential merger discussions between WestLB
and BayernLB," commented Friedrich Merz, the official Sales Agent.
Firco Continuity, Firco Filtering Suite's module to filter financial transactions, has been deployed within four weeks at WestLB
, which represented the first phase of the project.
The 50th and 51st floors, which WestLB
also took in the deal, start at $72.
German financial institution WestLB
, which was bailed out by its government earlier this year, has signed a lease to move its New York headquarters to the reconstructed Seven World Trade Centre.
The successful syndication of a AED 3 billion facility during volatile market conditions and a tightening loan market is an excellent testament to the credit worthiness of du and the partnership formed between WestLB
and Mashreq," stated Richard Hill, Head of Global Loan Syndications & Debt Placement, EMEA, WestLB
But the Boxclever deal cost the bank pounds 300million and, because WestLB
is owned by German taxpayers, the loss was publicly probed.
The pounds 434m provision, pushing WestLB
pounds 253m into the red for the first six months of the year, covers all its known credit risks.
AG, and its parent Landesbank Nordrhein-Westfalen, Dusseldorf, Germany, were established on the reorganization of the former Westdeutsche Landesbank Girozentrale ("WestLB
") in August 2002.
As part of the new proposal WestLB
said it would dispose of its interests in Mid Kent Water to satisfy regulatory requirements.
cited Brown Forman's recent drop in its estimates for first quarter earnings per share, which were brought down 9%, as evidence of the trend.