NY Judge Derides $49M Aetna Suit V. Lehman Affiliate

Law360, New York (February 15, 2011, 2:23 PM EST) -- A New York judge appeared ready Tuesday to toss Aetna Life Insurance Co.’s $48.65 million lawsuit against an affiliate of bankrupt Lehman Brothers Holdings Inc., calling the case a stretch.

The dispute, before the Supreme Court of the State of New York, County of New York, involves investments in an Aetna trust account that was managed by Appalachian Asset Management Corp. for a nondebtor subsidiary of Lehman.

“If I don’t dismiss this case I’ll be surprised,” Judge Charles E. Ramos said.

Aetna set up the trust...
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