2nd Circ. Refuses To Nix Wachovia Appeal Of CDS Suit

Law360, New York (March 8, 2011, 10:08 PM EST) -- Vanquish Capital Group LLC on Tuesday failed to knock out Wachovia Bank NA's appeal to the Second Circuit of a decision forcing the bank to arbitrate a dispute over a credit default swap contract that allegedly cost the U.K. hedge fund sponsor $9 million.

The U.S. Court of Appeals for the Second Circuit said it would deny Vanquish's motion to dismiss the appeal following brief arguments over whether the appeal could be considered unnecessary.

Wachovia is seeking to reverse a ruling by a lower court that...
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