NY Appeals Court Keeps RBC Investor Suit Alive

Law360, New York (April 5, 2011, 7:52 PM EDT) -- A New York appeals court on Tuesday rejected Royal Bank of Canada's bid to toss a suit from four institutional investors accusing it of using a front to secretly manage a fund and hiding financial problems that led to its collapse.

The Appellate Division of the Supreme Court of the State of New York, First Judicial Department, upheld a trial court's ruling that the state court is the proper venue for Canadian institutional investors — Balanced Return Fund Ltd., Mendota Capital Inc., Commax Investors Services Ltd....
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