HSH Nordbank has dropped its high-profile allegations against Barclays Capital for mis-selling two collateralized debt obligations, just one week before the scheduled court hearing. HSH accused Barclays of eroding USD200 million from the value of two CDOs, Corvus and Nerva, through substituting credits.
Barclays and HSH issued a joint statement saying, The legal proceedings between Barclays Bank and HSH Nordbank AG have been resolved amicably.”
