Alberta Treasury Branches and West Edmonton Mall have reached a settlement resolving all claims and counterclaims arising from litigation between the two parties. Terms of the settlement were not disclosed.

The parties have exchanged formal releases as part of the settlement and have agreed to the discontinuance of all actions against each other without costs.

“A negotiated resolution of this matter is in the best interest of ATB and its depositors,” said Bob Normand, president & CEO of ATB Financial. “We look forward to continuing to work with West Edmonton Mall and the Ghermezian family in a spirit of mutual cooperation.”

The financial impact of the settlement on ATB will be reflected in its quarterly financial reports.

Confidentiality agreements require that specific terms of the settlement not be disclosed, however

http://www.newswire.ca/releases/December2002/20/c5901.html