AIG Fraud Claim Against Moore Capital Survives On Appeal

Law360, New York (July 9, 2013, 2:18 PM EDT) -- AIG Financial Products Corp. sufficiently alleged Moore Capital Management LP provided "substantial assistance" in drafting a complex securities agreement that left AIG on the hook for $350 million, a New York appellate panel ruled Tuesday, affirming a trial judge's refusal to dismiss a claim of aiding and abetting fraud.

Five judges in New York City's First Department — a mid-level appellate court — backed up Manhattan trial judge Jeffrey K. Oing's refusal to dismiss the fraud claims against the hedge fund and its Seychelles Ltd. unit....
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.