When Iceland’s banks failed in 2008 under $85 billion of debt, dozens of hedge funds flocked to the island betting they could make money buying up creditor claims. Five years later, they’re still waiting.
Barclays Plc bought about $100 million in claims on bankrupt Lehman Brothers Holdings Inc. from Fir Tree Value Master Fund LP and a related entity, according to court filings. The purchase price wasn’t disclosed.
A group of lenders to Philip A. Falcone’s LightSquared Inc. seeks to end his control of the bankrupt company through an auction that would have a leading bid from a unit of Dish Network Corp. valued at $3.5 billion.
Anglo Irish Bank Corp. defended a sale of its U.S. loan portfolio that was ordered by the Irish government and its acquisition of Irish Nationwide Building Society, calling them “non-commercial, sovereign acts.”
U.S. Supreme Court justices debated an effort to make investment banks, including units of Goldman Sachs Group Inc. and Morgan Stanley, pay back money they earned by allegedly manipulating dozens of initial public offerings.
Deutsche Boerse AG and NYSE Euronext settled shareholder lawsuits challenging the $9.53 billion buyout of the parent company of the New York Stock Exchange by offering to pay $910 million in dividends earlier this month, court papers show.