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
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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.