British bank resumes trading

Article Abstract:

Barings PLC, a 233-year-old British Bank that went bankrupt after a trading scandal, resumed operations on Mar 9, 1995, after Internationale Nederlanden Groep NV purchased the bank. New reports indicate that Barings officials were aware of Nicholas Leeson's irregular trading practices.

Banking industry, Mergers, acquisitions and divestments, Finance, ING Groep N.V., Bank failures

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Barings crash report released

Article Abstract:

A report issued by the Bank of England on Jul 18, 1995, blamed poor managerial control for the financial collapse of Barings PLC. Former Barings trader Nicholas Leeson, who allegedly cost the firm $1.4 billion in risky derivatives trading, is fighting extradition to Singapore.

Extradition, Bankruptcy

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Singapore releases Barings report

Article Abstract:

A report issued on Oct 17, 1995, by Singapore's Finance Ministry blamed top Barings PLC executives for failing to exercise control over rogue trader Nicholas Leeson, who caused the loss of $1.3 billion. The report accused Barings of 'grossly negligent behavior.'

Securities industry, United Kingdom. Serious Fraud Office

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