Leeson bondholder action fails

Leeson bondholder action fails

Attempts to have disgraced futures trader Nick Leeson tried in the UK faced collapse yesterday. Bondholders who lost more than pounds 50m on the demise of Barings merchant bank have failed in their attempts to have Mr Leeson repatriated to face eight summonses alleging that he obtained money by deception and false accounting. The action, brought by the Barings Perpetual Noteholders Action Group, was due to be heard before City of London Magistrates on 30 October . The bondholders could still appeal to the High Court.

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