Cantrade Investors Contemplate $15 Million Compensation Offer

BANKS

Cantrade Private Bank Switzerland, a subsidiary of Union Bank of Switzerland, has hired KPMG, a London-based accountancy firm, to negotiate compensation settlements on its behalf for a group of investors who are suing the bank, says Johann Baerlocher, managing director in Jersey, the Channel Islands. The group of investors previously rejected Cantrade's offer of a compensation settlement (FXW, January 20).

Baerlocher says Cantrade's offer (estimated at around $15 million) is to repay all

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