2nd Circ. Favors Aetna, Algonquin In Notes Sale Suit

Law360, New York (November 2, 2010, 4:27 PM EDT) -- A federal appeals court has nixed Trafalgar Power Inc.'s challenge to the sale of its notes by Aetna Life Insurance Co., handing both Aetna and purchaser Algonquin Power Systems Inc. a win in the long-running dispute.

On Monday, a three-judge panel for the U.S. Court of Appeals for the Second Circuit affirmed a district court decision granting Algonquin and Aetna summary judgment on Trafalgar's claims and denying Trafalgar leave to amend its complaint.

The appeals court also vacated and remanded the lower court's denial of Algonquin's...
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