Hedge World –Â Litigation funder IMF Australia said it will back lawsuits in Europe related to billions of dollars worth of toxic derivatives created by ABN AMRO Bank N.V. and rated Triple-A by Standard & Poor’s after winning a similar case in Australia.
IMF Australia said in a statement it had set up a foundation based in The Hague to pursue claims from investors who bought CPDOs, or constant proportion debt obligations — credit derivatives created by the Dutch bank and stamped with S&P’s highest rating. ABN AMRO Bank N.V. is now owned by Royal Bank of Scotland.