Hong Kong investors claw back more Lehman losses
The Hong Kong arm of DBS bank, a Singaporean lender, will pay out $83.8m to customers who lost their investments on credit-linked notes related to Lehman Brothers when the bank collapsed in late 2008, the Hong Kong Monetary Authority (HKMA) said on Wednesday.
Under the agreement, reached by the HKMA, DBS and Hong Kong's Securities and Futures Commission, more than 60% of investors who bought Lehman Brothers-linked Constellation Notes will receive payment from the bank, without admission of
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