ACA Adds Paulson As Defendant In $120M Abacus Suit

Law360, New York (January 30, 2013, 7:25 PM EST) -- ACA Financial Guaranty Corp. can add hedge fund Paulson & Co. to the monoline insurer's $120 million suit against Goldman Sachs & Co. over the now-notorious Abacus transaction, but a New York state judge said Wednesday that ACA must quickly turn over contemporaneous audiotapes.

Judge Barbara R. Kapnick said in a bench ruling during a hearing that ACA could file its new complaint, which it says adds some additional evidence to bolster its allegations and adds Paulson as a defendant for its actions in allegedly shorting...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.