Citibank Can't Nix Morgan Stanley Claim In $245M Row

Law360, New York (October 11, 2010, 6:01 PM EDT) -- A federal judge has denied Citibank's motion to dismiss Morgan Stanley & Co. International PLC's counterclaims in a suit over who is liable for $245 million lost on a credit default swap between the parties.

Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York ruled Friday that Morgan Stanley had successfully used a series of e-mails between negotiators to raise the possibility that the written contract between the parties did not accurately reflect what had actually been agreed upon....
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