Thursday, October 2, 2008

Avoid going to court

http://www.thestandard.com.hk/news_detail.asp?pp_cat=11&art_id=72415&sid=20823932&con_type=1&d_str=20081002

Three banks are secretly negotiating with angry investors to prevent being taken to court over the distribution of Lehman Brothers minibonds, according to sources. They are among 21 banks and financial institutions with exposure to Lehman Brothers investment products but which are said to have only a few investors and prefer a settlement rather than a court case. According to the source, the banks involved are Dah Sing Bank, DBS Bank (Hong Kong) and Mevas Bank, which is part of the Dah Sing Banking Group