Simmons & Simmons has scored a top role on one of the first true bank-on-bank disputes to hit the UK as a result of the credit crunch - HSH Nordbank's claim against UBS for more than $275m (£138m) and a counterclaim by UBS.The case, which was filed in New York at the end of last month (25 February), sees HSH Nordbank trying to recover losses on a $500m (£251.8m) portfolio of collateralised debt obligations (CDOs) linked to the US mortgage market, which were structured and sold by UBS.
March 06, 2008 at 12:13 AM
1 minute read
The original version of this story was published on Legalweek
Simmons & Simmons has scored a top role on one of the first true bank-on-bank disputes to hit the UK as a result of the credit crunch – HSH Nordbank’s claim against UBS for more than $275m (£138m) and a counterclaim by UBS.
The case, which was filed in New York at the end of last month (25 February), sees HSH Nordbank trying to recover losses on a $500m (£251.8m) portfolio of collateralised debt obligations (CDOs) linked to the US mortgage market, which were structured and sold by UBS.
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