Burlington Loan Management Caught in Iceland Bank Failures
This article is for subscribers only.
Burlington Loan Management Ltd., a company owned by U.S. hedge fund Davidson Kempner Capital Management LLC, is one of the largest creditors in Iceland’s failed banks, Industry Minister Steingrimur J. Sigfusson said.
The investor represents 8.46 percent of all claims against Glitnir Bank hf, according to a letter to Iceland’s parliament from Sigfusson, posted today on the legislature’s website. Burlington is the fifth-largest creditor of Kaupthing Bank hf, with 3.92 percent “of approved general claims” against the Reykjavik-based lender, according to the letter.