Other pro visions Securit as in G erman y has set tled a dispute with Deutsche B ank concernin g a cert ain contr act mat ter from 2006 in v olvin g a Let ter of Comfort and has a greed to pa y the B ank an amount of ME UR 100 in return for a full release of all present and future claims The set tlement amount is included in Other pro visions in the t able abo v e and has been paid on Januar y 10 2013 N O TE 36 Pledged as se ts M SEK 2012 2011 2010 Pension balances defned contribution plans 826 743 721 f inance leases 836 868 857 T ot al pled g ed assets 1662 1611 1578 N O TE 37 Contingent liabilitie s M SEK 2012 2011 2010 Sureties and guar antees 1 541 569 562 Guar antees related to discontinued oper ations 186 207 189 T ot al contin g ent liabilities 727 776 751 1 Guar antees on behalf of related parties are accounted for in note 7 In addition to the contin g ent liabilities accounted for in the t able abo v e the follo win g contin g ent liabilities for which no amount can be determined also e xis t Br azil Es trela Azul In connection with the eforts of Securit as to e xpand its activities in L atin America Securit as entered into an a greement in 2005 with respect to the possible acquisition of a guar din g compan y in Br azil In or der to support this compan y while required g o v ernment al appro v als w ere soug ht Securit as pro vided a bank guar antee for the beneft of the subject compan y The g o v ernment al appro v als took much lon g er than anticipated to obt ain and durin g such period the fnancial condition of the t ar g et compan y subs t antially deterior ated G iv en the decline in the fnancial condition of the compan y in December 2006 Securit as e x ercised its rig ht not to complete the acquisition The g o v ernment al appro v al had then been receiv ed In view of the decision not to complete the subject tr ansaction a pro vision in the amount of the bank guar antee w as recogniz ed as of December 31 2006 The compan y fled for protection from its creditor s under Br azilian le g isla tion pro vidin g for a judicial res tructurin g process Securit as ha vin g applied to be re g is tered as a creditor in the insolv enc y mat ter objected to the compan y s res tructurin g plan proposed in the judicial res tructurin g process The insolv enc y jud g e decided a gains t Securit as objections and this decision w as appealed b y Securit as in 2008 The Court of Appeal upheld the lo w er courts decision The compan y has thereafter on No v ember 9 2009 been declared bankrupt and the res tructurin g process has been replaced b y bankruptc y proceedin g s In connection with the judicial res tructurin g process the compan y no w in bankruptc y asserted a claim of M U SD 140 a gains t Securit as alle g in g that Securit as is responsible for the compan y s fnancial failure Securit as denies all responsibilit y for such claim The defense of these cases has been entrus ted to one of the leadin g la w frms in Br azil In a decision b y the fr s t ins t ance court in Br azil the claim w as fully rejected The jud gment w as appealed b y the bankruptc y es t ate to the Br azilian Court Appeals and this Court decided on formal grounds to nullif y the jud gment and to remand the case to the fr s t ins t ance court for retrial The fr s t ins t ance court has decided to allo w new e vidence to be allo w ed in the case Securit as main t ains its pre vious position to the claim In addition se v er al former emplo y ees of Es trela Azul ha v e sued Securit as and other parties in court and claim inter alia w a g es and other compensations in pendin g labor suits The number of labor la w cases in v olvin g Securit as decreased durin g 2011 and the number of new cases where Securit as is a named defendant decreased signifcantly in 2012 The claimed amounts are in a v er a g e relativ ely lo w The defense of these labor cases has been entrus ted to one of the leadin g labor la w frms in Br azil specializin g in labor la w mat ter s Securit as denies all responsibilit y for such labor claims Spain t ax audit The Spanish t ax authorit y has in connection with an audit of Securit as Spain challen g ed cert ain interes t deductions and in a t ax resolution in June 2009 and fourth quarter 2012 decided to reject interes t pa yments made for the y ear s 20032005 and 20062007 respectiv ely The 2012 resolution w as e xpected as a consequence of the resolution receiv ed in 2009 If fnally upheld b y Spanish courts the resolution b y the Spanish t ax authorities w ould result in a t ax of m E u R 26 includin g interes t Securit as has durin g 2011 los t the case referrin g to the y ear s 20032005 at fr s t le v el court T ribunal Economico Adminis tr ativ o Centr al and appealed the case to the national court Audiencia Nacional Securit as belie v es it has acted in accor dance with applicable la w and will defend its position in court Ho w e v er the t ax resolution causes some uncer t aint y and it ma y t ak e a lon g time until a fnal jud gment is made T o a v oid future challen g es of interes t deductions the Group has in 2009 adjus ted the capit alization of Securit as Spain U SA the e v ents of September 11 2001 A det ailed account of the de v elopments surroundin g the e v ents of Septem ber 11 2001 has been presented in press releases and interim and annual reports for 2001 to 2011 Securit as subsidiar y Globe A viation Ser vices Corpor ation Globe and other group companies tog ether with the rele v ant airline and other parties remain defendants in one la wsuit re gar din g propert y and business dama g e pert ainin g to the e v ents of September 11 2001 In 2011 the las t wron g ful death case pendin g a gains t Globe and other Securit as companies w as dis missed Throug h a set tlement with the ma jorit y of the plaintifs in the propert y dama g e claims in the case the ma jorit y of such claims w as set tled The set tle m e n t a greement has been confrmed b y the Court of Appeals and became thereb y fnal and bindin g The remainin g propert y dama g e claim is such that the v alue of the claims fled can e x ceed the insur ance co v er a g e es timated to e xis t as a potential source of reco v er y The potential e xposure has ho w e v er been reduced due to court decisions limitin g the liabilit y of Globe and the o t h e r defendants Due to the s t atutor y liabilit y cap in relation t o t h e e v e n t s of September 11 2001 an y such liabilit y w ould also be limited to the amount of liabilit y insur ance co v er a g e maint ained at the time of the incident Globe and the other group companies and the other defendants in the propert y dama g e case are challen g in g the claim in all material respects All co v er a g e disputes with the rele v ant September 11 2001 insurer s ha v e been resolv ed The proceedin g s a gains t other Securit as group companies than Globe ha v e with the consent of the Court and the Plaintifs been tempor arily s t a y ed An y liabilities arisin g out of the September 11 2001 litigation are not e xpected to materially impact Securit as business oper a tion or fnancial position U SA t ax audit The U S t ax authorities ha v e after fnalizin g an audit of Securit as U SA for the y ear s 20032004 issued a notice on July 1 2010 disallo win g cert ain deductions for insur ance premiums Securit as is of the opinion that it has acted in accor dance with the la w and will defend its position in u S T ax courts It ma y t ak e se v er al y ear s until a fnal jud gment is a w ar ded If the notice is fnally upheld b y the U S T ax courts a jud gment could result in a t ax of m u SD 60 plus interes t Other proceedin g s Ov er the y ear s Securit as has made a number of acquisitions in diferent countries As a result of such acquisitions cert ain contin g ent liabilities of the businesses acquired ha v e been assumed The risks relatin g to such contin g ent liabilities are co v ered b y contr actual indemnifcation insur ance or adequate reser v es Companies within the Securit as Group are also in v olv ed in a number of other le gal proceedin g s and t ax audits arisin g out of the business An y liabil ities arisin g out of such proceedin g s are not e xpected to be material to the business oper ations or the fnancial position of the Group 117 Annual R eport Notes and comments to the consolidated fnancial s t atements Securit as Annual R eport 2012