BNP Paribas Among Lenders Facing $175 Million Loss on Invexstar
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Group of banks made loans to failed firm with one employee
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Invexstar Capital collapsed into administration last year
BNP Paribas SA, Nomura Holdings Inc. and Morgan Stanley are among some of the world’s biggest banks facing a combined 120 million-pound ($175 million) loss on dealings with a failed bond-trading brokerage with just one employee.
Invexstar Capital Management Ltd., based in London, triggered the losses when it collapsed last year after about 18 months in business, according to a Oct. 1 document filed by officials overseeing its wind-down. The firm, which had assets of about 1.2 million pounds, owes at least 49 million pounds to Paris-based BNP Paribas, 28 million pounds to Tokyo-based Nomura, 10.9 million pounds to Morgan Stanley and additional money to ING Groep NV and Mizuho Financial Group Inc. according to a filing in July. The Times reported the accounts earlier…
BNP Paribas Among Lenders Facing $175 Million Loss on Invexstar
