Law firm at the heart of bitter and complex fraud cases
Two arrested amid investigation into Kaupthing collapse say raids were a publicity stunt
Sigurdsson faces embezzlement charges
In an auction to cash-settle credit default swaps (CDSs) tied to Icelandic bank Landsbanki, recovery rates on its senior and subordinated debt were set at 1.25% and 0.125% today, respectively.
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A final value of 8.625% was set on the bonds of Lehman Brothers today, in an auction intended to cash-settle credit default swap (CDS) trades linked to the toppled dealer.
The nationalisation of Iceland’s largest bank Kaupthing on Thursday constitutes a technical credit event, the International Swaps and Derivatives Association has confirmed.