Top NY Court Mulls $99M Judgment In Merrill Debt Case

Law360, New York (September 10, 2013, 5:48 PM EDT) -- New York's highest court asked Tuesday whether the imposition of a $99 million default judgment against a Brazilian banking family over its failures to provide discovery materials went too far in Merrill Lynch & Co. Inc.'s suit over debts allegedly owed by the family after risky trades.

The New York State Court of Appeals heard back-and-forth from lawyers representing the sides after a midlevel appeals court affirmed the judgment, which was imposed by Judge Ira Gammerman against Ezequiel Nasser and his kin Raymond, Albert and Scarlett...
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