Barclays is considering suing to recover more than $400 million lost in a Bear Stearns hedge fund that placed big bets on subprime residential mortgage-backed securities, according to the Wall Street Journal. Barclays had been an investor in Bear Stearns Asset Management's High-Grade Structured Credit Strategies Enhanced Leverage Fund, which is now worth nothing. Barclays also extended one loan for $200 million that has since been paid back, and offered to extend another loan for $250 million, which was never extended. In addition to its option to force litigation, Barclays may negotiate a settlement with Bear.
Promoted By Euroclear
Read the magazine on your mobile device
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||6,901||20||10.32|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||Wells Fargo Securities||68,611.22||170||11.38%|
|2||Bank of America Merrill Lynch||59,056.08||169||9.80%|