Word: suede
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In this case, SK Securities entered into a currency-swap deal with Morgan in early 1997 whereby SK Securities in effect borrowed U.S. dollars and invested them in Thai baht. But within a year the baht plunged in value, from 25 to 48 to the dollar, and the Korean firms...
And then there's Bankers Trust, which introduced the world to derivatives surprises in 1994. Procter & Gamble sued the bank after absorbing losses of about $150 million on a blown deal, accusing Bankers Trust of misleading it on the risks. The bank agreed to a costly settlement. Now it may...
The problem, Strober said after her speech, was not the monetary sum, but the principle of the settlement itself. Mrs. Wendt, who sued for 50 percent of the household's assets, has, according to Strober, "gotten a backlash for what many have called greed, but is genuinely sincere in her...
In early 1997, Shah took his daughter from his first marriage, Nelie, on a tour of his homeland. Nelie, an attorney, suggested a plan to get Ellen off his back--a plan Bipin Shah may forever regret. He sued Ellen for full custody of the girls, hoping it would give...
Scattered across the country now are childless fathers who claim they were wrongly accused, and they are absolutely flabbergasted that despite her public boasts of aiding in the disappearance of their children, Faye Yager isn't behind bars. She has been sued a dozen times by her count and never...