Scotiabank Sued Over Lost Contract For Chilean Toll Project

Law360, New York (April 17, 2012, 8:33 PM EDT) -- A Spanish construction firm sued The Bank of Nova Scotia and its investment banking arm in New York state court Monday, accusing the bank of providing “seriously flawed” financial advice that caused its consortium to lose out on a multimillion-dollar Chilean toll road project.

Scotiabank and Scotiabank Global Banking and Markets, then known as Scotia Capital Inc., caused SA de Obras y Servicios, COPASA and consortium partner Cointer Chile SA to underbid for the road expansion project in October 2010 by about $1.75 million unidades de...
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