Royal Bank of Canada reaches agreement over Enron case

The settlement relates to the proceeds of the sale of 11.5 million shares ofcommon stock of Enron affiliate EOG Resources, a publicly traded company. Theshares were the subject of the Cerberus transaction, which closed in November2000.

RBC entered into a subsequent TRS agreement with Rabobank, under which the bankassumed the credit risk of the transaction and was required to pay RBC $517 millionplus interest in June 2002. Rabobank refused to honour the transaction, whichresulted in

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