Judge Nixes ADCB's Suit Over $40M Restructuring

Law360, New York (August 5, 2011, 1:46 PM EDT) -- A New York state judge dismissed a lawsuit Thursday lodged by Abu Dhabi Commercial Bank PJSC that claimed Credit Suisse Group AG and Standard & Poor's Financial Services LLC oversold the benefits it would receive from restructuring a troubled $40 million investment.

Judge O. Peter Sherwood said Credit Suisse fairly warned ADCB about the transaction's myriad risks from the get-go and added that the Credit Suisse was clear in saying that it was not providing ADCB investment advice or endorsing the restructuring. ADCB might take issue...
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