The investigator will also examine Kaupthing's dealings with a company linked to Mr Stanford and its trading in credit default swaps (CDS) relating to the bank. Mr Stanford's company, Trenvis, is believed to have been set up by Kaupthing in the British Virgin Islands before receiving a loan of €41.7m (£35.3m) from the bank. Mr Stanford was a business associate of the Icelandic retail giant Baugur, which borrowed heavily from Kaupthing.