Leyne, Strauss-Kahn & Partners, the financial services firm once headed by former IMF chief Dominique Strauss-Kahn and French-Israeli investor Thierry Leyne, said last week it’s insolvent, Bloomberg and other Western media have reported.
- Strauss-Kahn partner was in dispute over unauthorized trades when he died
- Strauss-Kahn's business partner dies in apparent suicide in Tel Aviv
Leyne died on October 23 in Tel Aviv in an apparent suicide after falling to his death from an apartment in Tel Aviv’s Yoo Towers complex.
“[Leyne, Strauss-Kahn & Partners] discovered additional commitments within the group, which they were unaware of and which aggravate its delicate financial situation,” the company’s board of directors said in a statement, according to Bloomberg.
“The board found that the new information called into question the continuation of the company LSK, whose credit is irreparably compromised” and “decided to proceed and make a declaration of insolvency.”
Following Leyne’s death, The Wall Street Journal reported that the 49-year-old financier had been in a dispute with Insch Capital Management, a Swiss company that had alleged that Leyne, Strauss-Kahn & Partners had made unauthorized trades with Insch’s money.
Strauss-Kahn reportedly resigned as chairman of Leyne Strauss-Kahn & Partners three days before Leyne’s death. Strauss-Kahn had been considered a possible future president of France before he was arrested in New York in 2011 on allegations that he sexually assaulted a hotel housekeeper. The case was later dropped amid questions over the credibility of the complainant’s testimony.