BNY Mellon to take $105m after-tax charge in 4Q 2015

BNY Mellon is to take a $105m charge in 4Q15 tied to a loan at the centre of legal proceedings against the now bankrupt Sentinel Management Group. This charge is BNY Mellon's estimate of losses from the loan based on a federal appeals court ruling last week, which we noted, that deemed its $312m claim, the outstanding amount on the loan, unsecured; legal proceedings continue.

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