Judge Won't Toss $35M Suits Between Hedge Fund, Oil Firm

Law360, New York (April 18, 2012, 8:12 PM EDT) -- A New York state judge refused Wednesday to dismiss a pair of lawsuits over allegations that a hedge fund group bankrupted an oil export firm when it pulled out of a $35 million crude oil refining agreement, saying too many factual issues were still in play.

Judge Barabara R. Kapnick said she found it "interesting" that both oil trading firm Petroexport Ltd. and hedge fund Platinum Partners Value Arbitrage Fund — who had sued and countersued each other in a pair of parallel lawsuits centered on...
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