Dominique Strauss-Kahn, the former International Monetary Fund boss caught up in a string of scandals, has just seen his one-year old investment banking firm go down the drain.
Last week, Strauss-Kahn’s business partner Thierry Leyne fell from a building to his death in Israel in an apparent suicide. Today, the Wall Street Journal reports that Leyne Strauss-Kahn & Partners (LSK Partners) has declared itself insolvent.
From the WSJ:
The Luxembourg-based firm said in a short statement written in French that after the “tragic death” of Mr. Leyne, the board had discovered “additional commitments within the group of which it was unaware and which aggravate the delicate financial situation.” It added: “Consequently it [the board] has decided to declare insolvency”.
The website of LSK Partners now appears to have no detail, with a simple holding page.
Last week the firm was embroiled in another battle with Switzerland’s Insch Capital Management, a hedge fund that accused LSK of taking money from its account to purchase equity in another firm, which LSK itself owned.
The firm was set up barely more than a year ago.
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