UBS SUED BY HSH NORDBANK ON SUBPRIME MORTGAGE SECURITIES

LOSSES & LAWSUITS

News of the lawsuit has stoked media speculation that there could be a knock-on effect, with more lawsuits filed by angry investors and institutions against the large investment banks that securitised debts from the US subprime mortgage market but have since suffered enormous writedowns on those flawed investments. HSH says it invested $500 million in excess regulatory capital in the fund in question expecting secure returns. It accuses UBS of breaking contractual terms by making high-risk investments and taking out some investments solely for UBS' own benefit.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here