Judge Won't Trim $60M Bond Suit Against Goldman

Law360, New York (May 5, 2010, 4:20 PM EDT) -- A federal judge has refused to dismiss as time-barred certain claims by two Ellington Management Group LLC-managed funds that Goldman Sachs Group Inc. reneged on deals involving $60 million in so-called Brady Bonds issued by the Venezuelan government.

Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York on Tuesday rejected Goldman's bid to dismiss part of a suit brought by Ellington Long Term Fund Ltd. and Ellington Overseas Partners Ltd. related to a 1998 bond purchase.

Ellington alleges that...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.