Ageas: Brussels court dismisses claims by former bondholders
(CercleFinance.com) - A Brussels court of appeal has dismissed all claims made by former bondholders, Belgian insurance group Ageas said on Monday.
The plaintiffs - who held convertible bonds with a nominal value of 2 billion euros, issued by the former Fortis in 2007 - requested the annulment of the conversion of the shares, the insurer said.
Last Friday, the Brussels Court of Appeal dismissed the claims, meaning that the conversion of the bonds into Ageas shares in 2010 remains unaffected, with no compensation due to the former bondholders.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The plaintiffs - who held convertible bonds with a nominal value of 2 billion euros, issued by the former Fortis in 2007 - requested the annulment of the conversion of the shares, the insurer said.
Last Friday, the Brussels Court of Appeal dismissed the claims, meaning that the conversion of the bonds into Ageas shares in 2010 remains unaffected, with no compensation due to the former bondholders.
Copyright (c) 2019 CercleFinance.com. All rights reserved.