Judge Hands Partial Victory To CIBC In Fraud Suit

Law360, New York (August 27, 2009, 1:33 PM EDT) -- A federal judge has given CIBC World Markets Inc. a partial victory in a fraud and breach-of-fiduciary-duty suit brought by the trustee of a bankrupt oil and gas drilling company, dismissing the claims with an opening to amend them.

Judge Nancy F. Atlas of the U.S. District Court for the Southern District of Texas on Aug. 25 dismissed several of the claims brought by Ben Floyd, the trustee and sole remaining officer of Seven Seas Petroleum Inc., but gave him the chance to amend those claims...
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