Wachovia Hedge Fund Spat Sent To FINRA Arbitration

Law360, New York (March 30, 2010, 4:03 PM EDT) -- A federal court in New York is compelling Wachovia Bank NA into arbitration before the Financial Industry Regulatory Authority over credit default swap contracts it had with a $58 million hedge fund run by Vanquish Capital Group LLC.

The U.S. District Court for the Southern District of New York granted summary judgment to the VCG Special Opportunities Master Fund Ltd. on Monday, finding that the claims the fund brought before FINRA are in fact subject to arbitration.

Wachovia and its broker-dealer arm Wachovia Capital Markets LLC...
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