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Did the court rule in favour of abc bank ltd or def bank ltd

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Problem - A bank ABC Bank Ltd. has sued a company DEF Ltd for failing to repay a $10 million debt. DEF Ltd argues that it is not liable to pay the money that ABC Bank Ltd. alleges that it owes it. The legal matter is closely contested, with either company expected equally likely to win. The court today has made its decision. No other information related to either of these companies was released today. The expected return on both ABC Bank Ltd. and DEF Ltd. is equal to the return on the overall market. Today the share price of ABC Bank Ltd. increased by 1.3 per cent, the share price of DEF Ltd. increased by 0.8 per cent, and the overall market increased by 1 per cent. Based on this information, did the court rule in favour of ABC Bank Ltd or DEF Bank Ltd?

Reference no: EM132753090

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