Tchenguiz brothers can sue Kaupthing Bank

The failed Icelandic bank had brought a "strike-out" action in a bid to block the legal challenge by property tycoons Vincent and Robert Tchenguiz. But today the move was dismissed by Justice Michael Burton, the BBC reports. The two entrepreneurs were among the bank's biggest borrowers when it collapsed in 2008, leading it to seize assets used to secure the loans. A previous attempt by the brothers to sue the bank through the Icelandic courts was thrown out. Kaupthing says it did not accept the court's decision, which it says was made on "technical grounds" in a statement on its...