Monday 27 March 2023

Pension fund ABP to sue Goldman Sachs over junk mortgages

Dutch civil service pension fund ABP is taking merchant bank Goldman Sachs to court for providing it with misleading information over the sale of junk mortgages, the Telegraaf reports on Saturday.

Before the economic crisis began, ABP invested in bonds which were coupled to American mortgages. But ABP claims it was wrongly informed about the credit-worthiness of the investment and the mortages were riskier than Goldman Sachs had said.
The pension fund, one of the biggest in the world, declined to say how much in damages it is seeking, the Telegraaf reported.

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