Real Estate
Embattled SBB Hit With New Demands From US Hedge Fund Fir Tree
- Letter sent via lawyers to SBB’s board toward end of November
- Two board members have departed property company this week
The headquarters of Samhallsbyggnadsbolaget i Norden AB (SBB) in Stockholm.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Pressure is again mounting on embattled Swedish landlord SBB after its second largest shareholder quit the board and a US hedge fund raised serious concerns about the conduct of its directors.
New York-based Fir Tree Partners said the board at Samhallsbyggnadsbolaget i Norden AB — as the firm is officially known — may be held criminally and civilly liable if they don’t act in accordance with their duties, according to a private letter sent to the landlord on Nov. 20 and seen by Bloomberg News. SBB and Fir Tree declined to comment on the letter.