Morgan Stanley Loses $3.4M Gas Contract Spat

Law360, New York (June 16, 2010, 7:49 PM EDT) -- A federal judge has dismissed Morgan Stanley Capital Group Inc.'s suit against Trafigura AG seeking to recoup $3.4 million from an allegedly canceled gasoline trading agreement, deeming the suit an unfair bid by MSCG to shift its credit risk to Trafigura.

Judge Denise Cote of the U.S. District Court for the Southern District of New York dismissed the breach of contract suit Tuesday, after lawyers for MSCG and Trafigura squared off in court earlier in June over the book transfer agreement.

The plaintiff decided to pull...
To view the full article, register now.