Ken Dart: What a clever man

The warning came amid reports that one Cayman islands-based vulture fund, Dart Management, received almost 90pc of the €435m of debts that Greece repaid on Tuesday.

The fund, founded by American tax exile Kenneth Dart, was one of those that refused the debt restructuring deal that saved Greece from default in March.

It was one hell of a bet, gambling on hte diference between Greek bonds issued under Greek law and Greek bonds issued under foreign law that the Greek government couldn\’t change.

And it paid off too.

4 thoughts on “Ken Dart: What a clever man”

  1. Yes. And if Syriza had won the last election (eg come first) they would probably have got very little. A clever and ballsy man.

  2. There was more to it than buying foreign-law bonds. The fund also picked the ones that matured just after the election, betting that the there would be a power vacuum in which the bonds would be paid off. (Unless of course they bought indiscriminately and we’re hearing only about the profitable trades.)

    But I don’t know why you’d describe it as “ballsy”. The guy’s been loaded since birth; it’s a bit like my putting a fiver my dad gave me on a horse.

  3. Paul B

    if he got 90% of 435 million, that’s roughly 390 million euros. If that is the equivalent of £5, it would mean either your dad was very poor or Dart’s dad was richer than Croesus.

  4. You must remember that this is the same “Ken Dart” that fucked off the IRS by renouncing his US Citizenship and buggering off to Belize to legally avoid paying taxes on his untold wealth.

    http://articles.latimes.com/2008/jun/15/business/fi-perfin15

    After waving his dick in the IRS’s face and causing a such a shitstorm that even Bill Clinton would no longer have anything to do with him the US instituted exit taxes to stop other rich sheep doing the same.

    Good on you Ken – keep up the good work!

Leave a Reply

Your email address will not be published. Required fields are marked *