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

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note