This is clear after DNB has reached a settlement with the seven municipalities. Thus it becomes Inga court case between the bank and municipalities. It was scheduled to have started on September 21.
First offera
Dei excludable Terra municipalities Bremanger, Hattfjelldal, Hemne, Kvinesdal, Narvik, Rana and Vik was dei first victim of the collapse in the US Housing loan market.
– We are ularly pleased that we have been our joint in this matter and that we avoid a trial that would have itself requires large resources from both municipalities and us. Both sides have contributed to reach full consensus, and this is a good solution for the all parties, says Executive Vice President Thomas Midteide DNB in a press release.
– The municipalities have been portrayed as idiots in the Terra case. Settlement with DNB is a form of redress, victory councilman in Bremanger, Tom Joensen, to Firdaposten
The agreement must be approved
The agreement requires approval of the decision-making bodies in both municipalities and DNB.
– This settlement means that municipalities can put scissors behind. The agreement was signed at a level that is well below the rise physician requirement from the bank, and we are satisfied with the. No getting municipalities freed funds that reach innbyggarane for good, says attorney Stein Erik Stinessen Advokatfirmaet Lund & amp; Co in the press message. He has represented municipalities in the case.
The debt economic oppgjeret after several agreements that municipalities, following the advice from Terra, inngjekk with the bank between 2001 and 2006.
The agreements losing out on that municipalities fekk paid the current value of future power revenues and other municipal revenues.
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