Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile4 entries
2010
IKB referenced in Goldman Sachs CDO lawsuit
The SEC alleged in litigation against Goldman Sachs and a Goldman trader that IKB and another investor were not adequately informed about Paulson & Co.’s role in selecting assets for a CDO while holding an interest that could benefit from defaults. The filing described an alleged IKB loss of approximately $150 million.
2007
Subprime exposure and emergency rescue
IKB suffered major losses after the structured vehicle Rhinebridge invested heavily in US subprime-related assets. The disclosure prompted emergency support from KfW and other banks, followed by a further rescue package in 2008.
2007
German investigations into reporting and accounting
BaFin and Germany’s Ministry of Finance investigated allegations concerning IKB’s reporting and accounting after the share-price collapse. The reference material states that no charges were brought against the bank, while most of its senior executives at the time left their positions.
2007
European Union state-aid review
The European Union examined whether the German rescue measures and potential restructuring arrangements complied with EU state-aid rules.