MetLife Wins Suit Over $65M CLO Funds

Law360, New York (January 3, 2012, 6:41 PM EST) -- A New York federal judge on Friday granted summary judgment to Metropolitan Life Insurance Co. in an interpleader suit launched by trustee U.S. Bank National Association, who sought judgment on the distribution of $65 million in funds from a collateralized loan obligation transaction.

U.S. District Judge Jed S. Rakoff granted MetLife's motion for summary judgment, denying collateral manager Black Diamond CLO 2005-1 Adviser LLC's request for a judgment on the pleadings and directing the trustee to distribute all of the interpleader funds to the noteholders, including...
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