Credicorp Ltd Settles Litigation, Ends Madoff Dispute

Credicorp (BAP) has released an update.

Credicorp Ltd. has announced the complete and final settlement of all litigation involving ASB Bank Corp., including the cases related to Bernard L. Madoff Investment Securities and Fairfield Sentry. The settlements have been approved by the U.S. Bankruptcy Court and the Second Circuit Court of Appeals, with ASB Bank Corp. paying US$42.75 million to the Madoff Trustee and both complaints being dismissed with prejudice.

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