Tag: cdos

Grange Securities, the Australian arm of failed investment bank Lehman Brothers bought collateralised debt obligations (CDOs) for councils even though they advised the firm not to, the Federal Court has…

By Angela Dorizas Melbourne based green technology group, Ceramic Fuel Cells, has begun a $25 million case against Oakvale Capital, a financial advisory firm used by a number of councils…

By Rob O'Brien New guidelines on council investments will ensure that elected officials do not delegate financial decision making, according to the NSW Department of Premier and Cabinet. Deputy Director General…

 Michael Cole. Image: Hugh O’Brien. By Angela Dorizas Councils that claimed to be in accordance with state legislation when investing in CDOs ignored their fiduciary responsibilities, the author of the…

The inaugural Local Government Investment Conference has teed up seven top speakers to distill the lessons of the global financial crisis (GFC) and map out the fiscal future for Australia’s…

By Angela Dorizas A ruling by the Federal Court has cleared the way for councils to pursue legal action against collapsed US investment bank Lehman Brothers. The Federal Court found…

By Angela Dorizas This week marks the first anniversary of the collapse of US investment bank Lehman Brothers, which sent shockwaves around the world and brought the global financial system…

By Angela Dorizas The Federal Court has upheld an appeal by the administrators of Lehman Brothers Australia to block Wingecarribee Shire Council’s access to the company’s insurance documents. The council…

Wingecarribee Shire Council is seeking to recoup losses made from CDO investments. Image: iStock By Angela Dorizas Wingecarribee Shire Council in New South Wales has won the right to proceed…

By Angela Dorizas Councils that have lost funds through high-risk investments in structured instruments, including collaterised debt obligations (CDOs), may have a litigation case against financial advisers and rating agencies,…