Thursday, 24 July 2014
Last updated 4 hours ago
Feb 23 2012 | 4:59am ET
A hedge fund is demanding a US$70 million payment from an Indonesian bank bailed out by that country's government.
Weston International Investment has begun proceedings against the former Bank Century, arguing that it is "legally responsible for the repayment" of the deposit, it said yesterday. Indonesia is in the process of selling the bank, now known as Bank Mutiara, after pouring 6.7 trillion rupiah (US$735.7 million) into it.
Luxembourg-based Weston is a distressed specialist with some US$1.9 billion in assets under management.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…