Morgan Stanley Looks At Moscow, Citigroup Settles Lehman Dispute: Financial Business Review

According to inside sources, Morgan Stanley (NYSE:MS) is about to purchase and enlarge a shopping mall in Moscow in an acquisition valued in excess of $1 billion. Such a move would mark the second time the funds it manages are being used to buy retail property purchase in Russia in 2012. The property in question in the Metropolis mall located in northwest Moscow which is close to the main highway to one of the city’s airports. The company declined to comment in an e-mailed statement.

Citigroup (NYSE:C) will pay $360 million to the brokerage estate of Lehman Brothers through which to settle a dispute in regards to $1 billion worth of collateral the investment bank had to post during the days prior to its bankruptcy in 2008. A resolution was reached on Friday with the trustee who is liquidating the failed company’s domestic brokerage division and for its part, Citigroup will surrender its claim to $75 million which was contingently paid to the estate at the start of the liquidation, according to court documents.

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New York federal Judge Paul Engelmayer has thrown out the lawsuit brought by Starr International Co. against the Federal Reserve Bank of New York in regards to the government bailout of American International Group (NYSE:AIG). Starr is a shareholder of AIG which has alleged that the government employed its 2008 bailout of the latter through which to divert money improperly to AIG’s trading partners.

The European Union’s competition regulators have granted the Dutch banking and insurance group ING Groep (NYSE:ING) additional time to rid itself of assets and to repay some €10 billion in government assistance so as to avert a fire sale, but at the same time keeping it under state supervision for a longer period, thus delaying dividend payments. Through the extension, ING now has until 2018 to divest or list its insurance and investment management operations, but some parts must be sold sooner.

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