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Dominique Strauss-Kahn Benedicte Gravrand, Opalesque Geneva:

Following his well-publicized fall in May 2011 in New York, Dominique Strauss-Kahn (aka DSK), former head of the IMF and former finance minister, went back to France. Last year, betting on his reputation as a strong economist, he launched a hedge fund with Thierry Leyne, a French-Israelite businessman. The firm, Leyne, Strauss-Kahn & Partners (or LSK), was to focus on emerging markets. Today (November 5th), it shut down due to insolvency.

In May this, DSK had felt confident enough to claim that in five years his firm would be larger than Lazard. He was also running the conference circuit.

However, things seem to have turned sour. Leyne committed suicide on October 23rd in Tel-Aviv, three days after DSK left the company and his role as president.

The Luxembourg-based firm said in a short statement that after the "tragic death" of Mr. Leyne, the board had discovered "additional commitments within the group of which it was unaware and which aggravate the delicate financial situation," the Wall Street Journal reports. The statement also said: "Consequently it [the board] has decided to declare insolvency".

It recently emerged that the business was in dispute with a Swiss hedge fund, ......................

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