Suit puts focus on derivatives' murky world
Article Abstract:
Banca Popolare di Intra of Italy bought collateralized debt obligations of $77.6 million from Bank of America Corp. and is suing as the securities were not safe. Some of the credit derivatives involved WorldCom Inc. and National Century Financial Enterprises. The Italian bank is claiming the securities were improperly sold and managed.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2005
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Italian Bank details claim against Bank of America
Article Abstract:
Banca Popolare di Intra, the Italian bank has filed papers against Bank of America Corp. alleging the company improperly managed and sold derivatives that resulted in a loss of $53.4 million for Banca Popolare di Intra.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2005
User Contributions:
Comment about this article or add new information about this topic:
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