The bank, now being integrated into UBS, manages to eke out a victory in a case that stretches back to the days of the financial crisis.
Switzerland's once second-largest bank has won a trial in London related to the sale of subprime mortgages during the period of the global financial crisis more than a decade back. The bank faced charges of over $160 million in the High Court that it had made misrepresentations related to sales of subprime securities.
The judge clearly rejected the charges of German-based Loreley Financing, a subsidiary of IKB. The decision was made on Friday.
