Tech company sues over CSOs, says WA Business News

WA Business News, a newspaper based in Perth, Australia, reports that Melbourne-based energy technology company Ceramic Fuel Cells is suing its former financial advisor over synthetic CDOs it bought. The company is suing an Australian advisory firm, Oakvale Capital, for AUD8.2 million ($6.9 million), claiming the advisor misled it into changing its investment policy to allow it to buy CDOs.

According to the article, Ceramic Fuel Cells wrote down AUD25 million on its investment in CSOs issued by a WestLB vehicle, Khamsin Credit Products.