Litigation-Standstill Agreement Reached to Permit Wachovia Settlement Talks
A standstill in formal litigation activity was declared late Monday by Citigroup, Wachovia and Wells Fargo, as the three sides tried to work out a settlement last night on the sale of Wachovia. The standstill, which puts a temporary halt to competing state and federal actions in Manhattan, expires at noon Wednesday, giving the parties time to complete an arrangement dividing the North Carolina-based bank’s assets.
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