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But it could prove fertile ground for litigation. Traders who bought insurance on B&B debt will want to claim a payout, arguing this is tantamount to default.
Banks that sold the insurance will argue the opposite. Rule changes by the UK government have clouded the issue. Debt expert Toby Nangle of Baring Asset Management predicts a legal "punch-up." Could be entertaining.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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