AmBase Announces Receipt Of Supervisory Goodwill Settlement Award

GREENWICH, Conn., Oct. 22, 2012 /PRNewswire/ -- AmBase Corporation (OTC: ABCP) ("AmBase" or the "Company") is pleased to announce that on October 19, 2012, the Company received $180,650,000 (one hundred eighty million, six hundred fifty thousand dollars) in accordance with the previously announced settlement agreement in the Supervisory Goodwill legal proceedings between AmBase, the Federal Deposit Insurance Corporation-Receiver ("FDIC-R") and the Department of Justice ("DOJ") on behalf of the United States of America (the "United States") (the "Settlement Agreement"). 

SOURCE AmBase Corporation

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