Judge Eileen Bransten dismissed the complaint of Dexia AG as it had no right to sue or claim on securities that were bought at face value.
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Dexia CEO Karel De Boeck said he wants to avoid further capital injection from taxpayers.
Piedmont was asked to pay Dexia Crediop SpA and Intesa Sanpaolo SpA US$47 million due to interest-rate swap agreement.
Two Chinese private equity funds are reported to be close to finalizing a deal to buy the asset management arm of Franco-Belgian financial group Dexia.
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