Bankruptcy Court To Gauge Indemnity Owed Cantor Fitzgerald

Law360, New York (August 16, 2012, 3:41 PM EDT) -- Cantor Fitzgerald & Co. on Wednesday lost its bid to remove an estimation proceeding from Louisiana bankruptcy court to determine indemnity costs stemming from two class actions accusing the bank of stiffing investors in a now-bankrupt hedge fund by overvaluing a $1 billion collateralized debt obligation.

In an order, Delaware bankruptcy Judge Sue Robinson said Cantor Fitzgerald failed to prove that the estimation proceeding would require the bankruptcy court to consider the merits of the actions under the Securities Litigation Uniform Standards Act and the Private...
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