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...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
