Scotiabank Sued Again Over Chilean Toll Road Bid Advice

Law360, New York (May 8, 2012, 6:19 PM EDT) -- The Bank of Nova Scotia was hit Monday with a second lawsuit alleging it gave bad advice that caused a group of investors to underbid for a Chilean toll road project by $82 million.

In their suit filed in New York state court, two subsidiaries of Spanish developer Grupo de Empresas Azvi SL accused the bank of providing flawed financial models that caused them to miss out on the multimillion-dollar Ruta Norte project, a 300-mile road project auctioned off by the Chilean government in 2010....
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