NY Appeals Court Tosses 45-Year-Old Citigroup Suit

Law360, New York (July 21, 2011, 7:53 PM EDT) -- A New York appeals court on Thursday tossed a breach of contract lawsuit against Citigroup Inc. brought by a now-defunct construction materials company 45 years ago, closing the book on what was probably the oldest pending suit in the state.

Lance International Ltd. sued Citigroup's predecessor, First National City Bank, in 1966, over its failure to collect on a subcontract for a school construction project in Okinawa, Japan. Lance International was dissolved in 1975 by the New York Secretary of State for failing to pay taxes,...
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