Indemnity Claims Nixed In Man Financial Suit

Law360, New York (October 18, 2007, 12:00 AM EDT) -- In a heated battle between Man Financial Inc. and the receiver for failed hedge fund Philadelphia Alternative Asset Management Co., a federal judge tossed out the indemnification claims against two third-party defendants on Wednesday but left the door open for contribution claims.

Judge Michael M. Baylson in the U.S. District Court for the Eastern District of Pennsylvania granted the two third-party defendant's motion for summary judgment as to the indemnification claims but denied it as to claims for contribution. So John Wallace and Edward Gobora could...
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