Settlement Financial News

In 2020, Goldman Sachs agreed to pay the Malaysian government $2.5bn in settlement for its involvement in the multibillion-dollar embezzlement scheme.

In a significant legal development, Judge Manish Shah of the U.S. District Court for the Northern District of Illinois has issued a verdict ordering cryptocurrency exchange Binance and its former CEO, Changpeng “CZ” Zhao, to pay a staggering $2.85 billion to the Commodity Futures Trading Commission (CFTC).

A New York bankruptcy judge has approved a settlement between bankrupt cryptocurrency firms FTX and Genesis Global Trading (GGC), allowing FTX-affiliated Alameda Research to get $175 million from GGC.

KUALA LUMPUR (Reuters) — A Malaysian government task force said on Thursday it viewed Goldman Sachs' filing of arbitration proceedings as premature, after the firm sued Malaysia in a British court this week amid an escalating dispute over a 2020 settlement deal.

(Reuters) -Goldman Sachs Group is suing Malaysia in a UK court, a source familiar with the matter told Reuters, as tensions escalate over a settlement linked to its role in the 1MDB investment-fund scandal.

The blockchain-based collateral settlement application of JPMorgan Chase & Co., a global banking giant, the Tokenized Collateral Network (TCN), is now live, having completed its inaugural transaction involving two significant clients: BlackRock and Barclays. 

By Dietrich Knauth

₹231 crore. According to media reports, SpiceJet also approached another lessor, Aircastle, to settle their dues against equity but the lessor rejected the proposal. In the case of Willis Lease Finance, the NCLT hearing is in its final stages and a decision is expected soon.

General Electric has settled a long-running lawsuit over the funds in its 401(k) plan for $61 million, one of the biggest settlements in ERISA litigation history.

Ariana Grande and Dalton Gomez have successfully finalized their divorce. The former spouses reached a divorce settlement on October 6, with Ariana reportedly agreeing to make a one-time payment of $1.25 million to Dalton instead of providing monthly spousal support. In accordance with court documents obtained by E! News, the 30-year-old artist initially requested spousal support and the allocation of property, as stipulated in the prenuptial agreement between her and Dalton.

₹10 lakh. It was also alleged that Singh had handed over outdated and invalid DIS (delivery instruction slip). In April 2022, the high court had granted interim relief to Singh, staying any coercive action against him by the police.

Hong Kong Exchanges and Clearing Limited (HKEX), which operates a range of equity, commodity, fixed income, and currency markets, has unveiled an equities settlement acceleration platform called "Synapse." 

On Wednesday, October 4, Hong Kong Exchanges and Clearing Limited (HKEX) introduced an upgraded version of its Stock Connect program called "Synapse."

Hong Kong Exchanges and Clearing Limited (HKEX), the operator of The Stock Exchange of Hong Kong, Hong Kong Futures Exchange, and London Metal Exchange, is launching a novel equities settlement acceleration platform. Dubbed "Synapse," the platform will utilize smart contracts in the DAML programming language to streamline post-trade flows and enhance operational efficiencies, according to the October 4 announcement. 

A Jersey Shore town where childhood cancer cases rose is suing to overturn a settlement between the state and the corporate successor to the company that dumped toxic waste into the water and ground for decades

ZURICH (Reuters) -Credit Suisse has reached an 11th-hour out-of-court settlement with Mozambique over the $1.5 billion-plus «tuna bond» scandal, the Swiss bank's new owner UBS said on Sunday, drawing a line under a damaging dispute it inherited.

WASHINGTON (Reuters) — Health insurer Cigna (NYSE:CI) Group says it has reached a settlement with the United States over claims it overcharged the government's Medicare Advantage program by making it appear patients were more ill than they actually were.

(Reuters) — Amazon.com (NASDAQ:AMZN) was accused by officials of violating the terms of a U.S. labor board settlement, breaching a 2021 agreement which required the online retailer to let workers unionize.

The Securities and Exchange Commission is finalizing settlements with about two dozen Wall Street firms to resolve probes into lapses in record keeping, Reuters reported. 

NSE, BSE settlement holiday: Following shifting of holiday by the Reserve Bank of India (RBI), and the Maharashtra State Government, NSE and BSE has shifted settlement holidays to 29th September 2023. Earlier, settlement holidays on NSE and BSE were declared on 28th September 2023.

McKinsey & Co has agreed to pay $230 million in its latest settlement to resolve lawsuits alleging it fueled a US opioid epidemic through its role advising drug manufacturers, according to court documents filed Tuesday. Thousands of lawsuits, brought by US local governments, schools, Native American communities, and parents on behalf of children born with withdrawal symptoms, accused McKinsey of strategizing with drug manufacturers to aggressively market prescription opioids «to maximize opioid revenues», the filings showed. McKinsey will pay $207 million to resolve claims by counties and municipalities, and $23 million to resolve claims by public school districts. Opioids are the main cause of drug overdose deaths in the United States, according to the US Centers for Disease Control and Prevention, with more than 75 percent of all drug overdose deaths in 2021 linked to them. McKinsey had already paid more than $640 million in 2021 to resolve lawsuits raised by 50 state attorneys-general over its work for bankrupt OxyContin maker Purdue Pharma and others. Tuesday's court filing said McKinsey had created and implemented marketing strategies for Purdue «before and after» the manufacturer's first guilty plea in 2007 relating to misbranding of OxyContin. The settlement still requires a judge's approval. McKinsey has consistently maintained its past work was lawful, but firm has said it ceased to advise clients on opioid-related business in 2019. «We did not adequately acknowledge the epidemic unfolding in our communities or the terrible impact of opioid misuse and addiction on millions of families across the country,» it said in a statement released in in 2020. «That is why last year (2019) we stopped doing any work