RBS Sued by WestLB Bad Bank Over CPDO Deal That Lost $42 Million

RBS Sued by WestLB Bad Bank Over CPDO Deal That Lost $42 Million

Hannelore Foerster/Bloomberg

WestLB lost 31.7 million euros ($42 million) on a 50 million-euro deal linked to constant proportion debt obligations created by RBS’s ABN Amro unit, Erste Abwicklungsanstalt and Portigon AG, the two entities that control the remnants of the bank, according to court documents filed Sept. 6 in London.