2nd Circ. Affirms Toss Of Refco Trustee Fraud Claims

Law360, New York (November 18, 2010, 5:00 PM EST) -- Relying on the New York high court's refusal to expand the liability of third-party advisers who allegedly assist corporate insiders in defrauding a corporation's creditors, a federal appeals court on Thursday upheld the dismissal of the Refco Inc. bankruptcy trustee’s suit implicating Mayer Brown LLP, KPMG LLP and other professionals in the massive Refco fraud.

In affirming Judge Gerard E. Lynch of the U.S. District Court for the Southern District of New York's May 2009 judgment, a three-judge panel in the U.S. Court of Appeals for...
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