#1
October 5th, 2017, 01:23 PM
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CSI vs. ABN AMRO
Hi I would like to have brief about the legal battle between ABN AMRO Bank NV and Complex Systems Inc for using trading software?
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#2
October 5th, 2017, 02:20 PM
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Re: CSI vs. ABN AMRO
A New York government judge decided that ABN AMRO Bank NV can't utilize Complex Systems Inc's. BankTrade programming subsequent to incorporating its permit in a $21 billion resource deal to Bank of America Corporation, saying ABN knew it was breaking the standards. CSI had requested a lasting order banishing ABN from utilizing BankTrade, saying it had sold its permit for the product as a major aspect of its $21 billion offer of LaSalle Bank to Bank of America Corporation. ABN had contended that the product, which empowers budgetary foundations to process and encourage keeping money exchanges, was so implanted in its exchange fund business that it can't stop utilizing it, and that the court should constrain CSI to offer it a permit on sensible terms. Be that as it may, U.S. Area Judge Katherine B. Forrest said in her request that just on the grounds that BankTrade was valuable to ABN and liable to be extremely costly to continue utilizing wasn't grounds to overlook its encroachment and require CSI to surrender its bartering power. The judge requested ABN to quit utilizing the product inside a year, and not to utilize it to process any new exchanges got following 60 days. |
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