Commerzbank Unit Fails To Nix Hedge Fund's $68M Suit

Law360, New York (July 11, 2011, 3:58 PM EDT) -- A Delaware judge declined Friday to dismiss a hedge fund's $68 million contract suit accusing a unit of Commerzbank Group of failing to pay the fund for its investment in profit-dependent securities issued to raise capital.

Vice Chancellor Donald Parsons of the Delaware Chancery Court determined that German law is applicable to the contract dispute between New York-based QVT Fund LP and Germany-based Commerzbank's Eurohypo AG, but only to a "very limited extent." Because the case involves Delaware-based trusts and limited liability companies, Delaware law applies...
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