BANKS FACE $2 BILLION LAWSUIT FOR LOAN NON-PAYMENT
LOSSES & LAWSUITS
Solutia claims market conditions were already volatile before the banks signed their commitment and alleges to have been misled, saying they agreed to finance the loan themselves if they failed to syndicate it. Solutia said if the banks will not finance the loan they should be held accountable for "fraudulently inducing" Solutia to agree to it. Goldman and Deutsche issued no comment, while Citigroup says the lawsuit is without merit and maintains it has complied with contractual obligations.
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 print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Regulation
A crypto CCP is still a CCP
For crypto infrastructure rules, regulators need speed before perfection, says former BoE adviser
Receive this by email