Fortis saga finally comes to an end

Ageas, the heir to the former Fortis financial group, has settled on legal proceedings surrounding Fortis’s past. The insurer announced this. It is a deal between the company and lawyer Mischal Modrikamen that represents several duped investors.

Ageas had previously reached an agreement with most shareholders on the loss of Fortis in the crisis of 2007-2008. Modrikamen continued its offensive against Ageas and former Fortis directors. Now that is coming to an end.

The insurer will still pay compensation to the customers of Modrikamen who opted for an opt-out from the Fortis settlement. The lawyer then receives an amount that covers the costs and damage associated with the legal proceedings.