Kaupthing, Real Estate Tycoon Settle $2.4B Suit

Law360, New York (September 19, 2011, 2:08 PM EDT) -- Kaupthing Bank HF, Iceland's largest bank, on Monday confirmed it had reached a confidential settlement in a $2.4 billion suit it faced over losses suffered by real estate mogul Vincent Tchenguiz, who had been arrested following the bank's collapse.

London resident Tchenguiz, who had been briefly arrested in March along with his brother in connection with Kaupthing's implosion, said in a statement that he, along with the trustee of Tchenguiz Family Trust and related entity the Euro Group, had settled all claims against the bankrupt bank...
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