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- Title
ABN AMRO Bank NV v Bathurst Regional Council.
- Authors
Harding-Farrenberg, Rommel; Donovan, Kieran
- Abstract
The article discusses the Federal court case ABN AMRO Bank NV v. Bathurst Regional Council, which deals with the creation of a poor performing financial product called "constant proportion debt obligation" (CPDO) by ABN AMRO Bank and the role of the rating agency Standard & Poor's Financial Services LLC in issuing a AAA credit rating to CPDO. According to the decision of the court, a rating agency owes a duty of care to investors for the rating it assigns to a financial product.
- Subjects
BATHURST (N.S.W.); ABN AMRO Bank NV; CITY councils; STANDARD &; Poor's Financial Services LLC; REASONABLE care (Law); FEDERAL court decisions; ACTIONS &; defenses (Law)
- Publication
Business Law International, 2015, Vol 16, Issue 1, p91
- ISSN
1467-632X
- Publication type
Article