The Supreme Court was told yesterday that a dispute between Northern Bank Ltd and a Norwegian bank had been settled and the court made an order striking out the proceedings.
Under a 1992 decision, the Northern Bank, formerly a subsidiary of Midland Bank, was ordered to pay about $6 million to Tromso Sparebank, a small bank now taken over by Sparebanken Nord Norge. The Norwegian bank's claim in the High Court was for judgment for two alleged promissory notes totalling $ 12 million.