BNY Mellon Shakes $50M Repsol Suit Over YPF Board Vote

Law360, Los Angeles (February 6, 2014, 7:46 PM EST) -- A New York state judge on Thursday tossed Repsol SA's $50 million breach of contract suit claiming Bank of New York Mellon Corp. ignored its voting instructions when electing Argentinian oil company YPF SA's board, ruling Repsol did not technically own the shares.  

New York Supreme Court Judge Eileen Bransten granted BNY Mellon and YPF's motions to dismiss all of Repsol's claims, ruling that the Spanish oil and gas giant lacked standing. The share's owners had put them up as collateral for a Repsol loan and...
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