ABN Amro and S&P could face European CPDO suit
European banks and pension funds are seeking redress over CPDO ratings, and claims against issuers of other structured credit products could follow
A number of European banks and pension funds are looking to sue ABN Amro and Standard and Poor's (S&P) in the Netherlands over the AAA ratings given to constant proportion debt obligations (CPDOs) issued in 2006 and 2007 – and other structured credit products may be next.
Within the next month, securities litigation funder IMF Australia expects to contact ABN Amro and S&P to discuss a potential settlement on behalf of a number of CPDO investors in Austria, Germany and the Netherlands, according
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"Deceptive and negligent": How the first CPDO got its AAA rating
An extraordinary Australian court judgement shines a light on the errors and deceit that led to the granting of an AAA rating to ABN Amro’s Surf constant proportion debt obligation in 2006. Lukas Becker reports
Dutch counsel confident of success as S&P faces new CPDO case
The fine handed out by an Australian court last year to ABN Amro and Standard & Poor’s was a rare success for post-crisis litigants in structured credit cases. The victors are hoping to repeat the trick in Europe – but what are their chances? Lukas…