LaCrosse Wins $16.2M From Liquidated CDO

Law360, New York (October 28, 2009, 2:06 PM EDT) -- A judge has allowed credit default swap contract holder LaCrosse Financial Products LLC to claim $16.2 million in funds set aside from Sagittarius CDO I Ltd., a collateralized debt obligation entity administered by Deutsche Bank Trust Co. that invested in troubled mortgage-backed securities and has since been liquidated.

Judge Lewis A. Kaplan issued an order on Tuesday in the U.S. District Court for the Southern District of New York granting LaCrosse access to virtually all Sagittarius funds remaining in a $34 million escrow account after an...
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