Sachsen LB and IKB was a bailout of twenty-six billion Euros and that's a huge scandal in Europe, which is still unfolding, and it derives from the U.S. Subprime crisis.
LB's motley owners have to pick Mr Sengera's successor, who will have to cope with the conflicting political and economic interests of the bank's shareholders, a rising cost of funds and a declining credit rating.
Greene's only condition in the settlement was that he get an additional 90 days to review all of LB Property's records pertaining to accounts connected to Greene's business interests to check for fraud or misappropriation of funds for which he could make a material fraud claim in arbitration, court documents say.
