Lehman administrators win CLN case in Korea

seoul-southkorea

On February 11, the Seoul District Court dismissed a claim brought by TrueFriend, an assignee of Korea Investment & Securities (KIS), against Lehman Brothers International Europe (LBIE), seeking to recover 350 billion won ($314 million) of losses it incurred on the purchase of credit-linked notes (CLNs) dating back to November 2006.

The case centres around the purchase by KIS of CLNs – securities with embedded credit default swaps, which  allow the issuer to transfer a specific credit risk to

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Credit risk & modelling – Special report 2021

This Risk special report provides an insight on the challenges facing banks in measuring and mitigating credit risk in the current environment, and the strategies they are deploying to adapt to a more stringent regulatory approach.

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