UK administrators "testing the market" for KSF sale

Laura Miller
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Administrators Ernst & Young are attempting to drum up buyer interest for the remains of failed Icelandic bank Kaupthing Singer & Friendlander (KSF).

KSF, which collapsed in 2008, has loan books worth £2bn. Before it went bankrupt it lent hundreds of millions of pounds to City high-flyers including Simon Halabi, the billionaire property investor, and luxury property developers Nick and Christian Candy. Now Ernst & Young has written to potential purchasers as part of "testing the market" to gauge interest in KSF's assets. A spokesperson says: "The administrator's objective is to realise KSF's business and assets for the benefit of the creditors and therefore [we] review the range of options available on a regular basis." Kaupthin...

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