Knowledge leads to doubt

The Dutch Supreme Court has made one thing clear. ABN Amro has a valid contract to sell LaSalle, the Dutch bank’s US subsidiary, to Bank of America. There is no room for appeal and no reason to delay. Dutch legal observers can spend time pondering the ultimate justice of this decision, but investors can move on to the next thing: the future of ABN. Unfortunately, the ruling doesn’t shed much light on that question. Both bidders for ABN can claim that this decision works in their favour. The Ba...