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Banca Generali in Court After Credits Sold to Clients Default

  • Company sues arranger CFE over emerging-markets credits
  • Firm says 31 out of 73 credits are in some form of default
Updated on

Banca Generali asked for help from a London judge in its attempt to find out what’s in 344 million euros ($368 million) worth of securitizations it sold to its clients, with many underlying credits now in some form of default. 

The Italian wealth manager asked to compel CFE Finance, from which it has purchased emerging-market credits, to provide it with documents relating to the underlying assets at a hearing Tuesday.