| NEW YORK
NEW YORK Aug 20 Royal Bank of Scotland Group
Plc said on Wednesday it had reached a settlement
allowing it to use a key piece of software in its trade finance
business that a U.S. judge had prevented the bank from using due
to copyright infringement.
Terms of the settlement with Complex Systems Inc were not
disclosed. But RBS in a statement said the deal would allow it
to use the company's BankTrade software and continue processing
trade finance transactions across all of its legal entities.
"Our clients remain our primary focus, and this settlement
assures them of our continued commitment to our trade finance
business," RBS said in a statement.
A spokesman for Jersey City, New Jersey-based Complex
Systems had no immediate comment.
In May, U.S. District Judge Katherine Forrest in Manhattan
entered a permanent injunction requiring RBS's ABN Amro unit to
stop using the BankTrade software within a year, and not to use
it to process new trade finance transactions received 60 days
from her decision.
ABN, now called Royal Bank of Scotland NV, had in court
characterized the BankTrade software as a "core" feature of its
technical platform and said removing it would be like cutting
out the system's heart.
The lawsuit, filed in 2008, flowed out of ABN Amro's $21
billion sale in 2007 to Bank of America Corp of LaSalle
Bank and a unit that had been licensing BankTrade from Complex
Forrest said the license went to Bank of America, but RBS
kept using the software. An outdated version became a deeply
embedded component of a platform used in 22 countries by more
than 2,600 clients, processing thousands of transactions a week,
The judge had ruled in March 2013 that ABN Amro was
improperly using the BankTrade software of Complex Systems.
The bank appealed and sought to put Forrest's ruling on hold
in the meantime. But the 2nd U.S. Circuit Court of Appeals in
New York denied the bank's request on June 26.
The case is Complex Systems Inc v. ABN Amro Bank NV, U.S.
District Court, Southern District of New York, No. 08-07497.
(Reporting by Nate Raymond in New York; Editing by Bernadette