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Legal News

: International and UK Law

HSH Nordbank sues UBS over exposure to sub-prime danger

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UBS, the underfire Swiss bank, yesterday became the first European bank to be sued by an investor over the sale of financial products that collapsed as a result of the meltdown in sub-prime mortgages in the United States.<br/> <br/> HSH Nordbank, one of Germany’s biggest banks, is suing the largest Swiss bank over $500 million ($£254 million) of collateralised debt obligations (CDOs) in what lawyers said was likely to be the first of many such cases in Europe.

Full post as published by International and UK Law on February 24, 2008 (boomark / email).

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