Bunhill: No relation

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Andrew Feinberg

White House Correspondent

LAWYERS in Canada are working overtime on a nasty dispute among the shareholders of Kruger, one of the country's biggest paper and newsprint suppliers. One of the parties at the centre of the dispute is Krupaco Investments, a dollars 300m Barbados-registered investment fund. One of the directors of Krupaco is David Gelber, who also has another job: chief operating officer of Midland Bank global markets. Krupaco has no banking connection with Midland nor its Hongkong & Shanghai parent. Midland says he sits on the board of Krupaco in a private capacity and the bank is fully aware of his role. I just hope he abstains from taking decisions should conflicts of interest ever arise . . .