KEYSTONE
The bankruptcy of the US car parts supplier First Brands is also causing difficulties for UBS. A subsidiary has invested massively and is losing 350 to 500 million investment funds.
No time? blue News summarizes for you
- The UBS subsidiary O’Connor has invested massively in the insolvent US car parts supplier First Brands via a fund, leaving 350 million dollars unsecured and probably lost.
- The lack of transparency in supply chain financing and excessive promises of returns of up to 17% in 60 days…