Mashreq’s $43 million dispute with ING finally comes to an end | The National

Mashreq’s $43 million dispute with ING finally comes to an end | The National:



"Mashreq’s dispute with ING Group in the New York courts over a multimillion dollar soured investment has come to an end, with each party agreeing to bear its own costs and legal fees.



The Dubai-based bank initiated legal action against ING in April 2013 over a US$43 million loss linked to investments in derivative securities, claiming fraud, breach of contract and breach of fiduciary duty by the Dutch asset manager.



Now the case has formally come to a close, according to a short document filed in the New York courts on Monday."



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