Silver Point Default Allegation Fails

Mar 28 2014 | 9:02am ET

A Japanese court has rejected Silver Point Capital's claim that Norway's Eksportfinans has defaulted on its Japanese bonds.

The state-backed export bank said in a statement after the decision that the Tokyo District Court junked the claim "on the basis that the plaintiffs' allegations regarding events of default are groundless." Eksportfinans added that the hedge fund would have to pay its costs.

The judge did not offer a reason for the decision.

Silver Point has two weeks to appeal the ruling.

Eksportfinans is being wound down and replaced with a new export financing program. The company has said it will cease operations as soon as it settles its debts.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note