Nightmare on North St

Mark Pengelly
01 Apr 2008

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Courtroom dramas over the capsized US subprime mortgage market, as well as the market turbulence incurred in its wake, are fast becoming commonplace. But one recent claim, filed in a New York court by Hamburg-based HSH Nordbank against UBS on February 25, is far from typical. The complaint - which remains unsubstantiated - is a murky epic of alleged structured credit mis-selling and mismanagement by one of the world's biggest banks, featuring subprime mortgages and a now-defunct hedge fund

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