Back in March, when Russia's Federal Customs Service first proposed settlement talks in its $22.5 billion RICO case against Bank of New York Mellon, it appeared that the Russians might be willing to accept as little as $800 million to end the litigation. Even that may have been aiming a little high; a $14 million settlement is now in the works, according to reports in The Wall Street Journal and the Russian press.
Russia, Bank of New York Move Toward Settlement in $22.5 Billion RICO Suit
The American Lawyer
September 16, 2009