Barclays Wins Dismissal Of $143M Unfair Transfer Fee Suit

Law360, New York (November 9, 2012, 12:10 PM EST) -- A New York federal judge on Wednesday tossed a $143 million suit brought by creditors of formerly bankrupt SemGroup LP against Barclays Bank PLC over an allegedly unfair fee collected when it took over the company's commodities trading positions, but didn't immediately explain his ruling.

U.S. District Judge Jed S. Rakoff’s order granting Barclays’ motion to dismiss the fraudulent conveyance suit said the judge would hold off on issuing final judgment, pending a written decision detailing his reasons for dismissing the case.

SemGroup’s litigation trustee, Bettina...
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Case Title

Whyte v. Barclays Bank PLC et al


Case Number

1:12-cv-05318

Court

New York Southern

Nature of Suit

Other Fraud

Judge

Jed S. Rakoff

Date Filed

July 9, 2012

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