NY Law Doesn't Block $70M BofA Fraud Suit: Concord Atty

Law360, New York (December 5, 2012, 5:50 PM EST) -- A Concord Capital Management LLC attorney urged a New York state appeals court Wednesday to allow the insurance premium finance company to sue Bank of America NA and Fifth Third Bank for helping rogue Concord executives carry out a $70 million scheme.

Jed Bergman of Kasowitz Benson Torres & Friedman LLP, who represents Concord, said during a hearing that the New York state law doctrine of in pari delicto, which prevents a plaintiff from recovering from a defendant involved in a fraud in which the plaintiff...
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