Sugar Co. Appeals $146M Merrill Swap Ruling To 2nd Circ.

Law360, New York (July 20, 2012, 10:34 PM EDT) -- Brazilian sugar and ethanol company Usinas Itamarati SA on Friday appealed to the Second Circuit a New York federal judge's $146 million judgment in favor of Merrill Lynch Capital Services Inc. in a dispute over a March 2008 swap agreement.

U.S. District Judge Richard J. Sullivan issued an order in March finding that Itamarati owed Merrill $146 million for breaching the terms of the swap deal. It marked a resounding victory for Merrill, now a unit of Bank of America Corp. after the financial crisis that...
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