Get shorty

DIVIDENDS are normally greeted like a birthday gift from a kindly aunt. But for one of the world's largest banks, the first dividend paid by a Canadian resource company was more like an unexpected bill. In the dark and convoluted world of hedging, this has led to a row that has ended up in court. Deutsche Bank Canada (DBC) is suing Sherritt International to stop it paying dividends and buying back its own debts at a discount. The case will resonate with many firms around the world that have found their shares used in financial hedges.