Macquarie Can't Nix Syncora Suit Over $500M Toll Road Deal

Law360, New York (July 11, 2013, 2:43 PM EDT) -- Bond insurer Syncora Guarantee Inc.’s suit claiming Macquarie Group Ltd. paid a consultant to help dupe it into backing a $500 million toll road financing agreement is strong enough to survive an early dismissal bid, a Manhattan judge said in a decision published Wednesday.

Judge Melvin L. Schweitzer's ruling left standing Syncora's claims of fraud, aiding and abetting fraud, and negligent misrepresentation against Macquarie Securities (USA) Inc.

The ruling came after the three other defendants in the litigation, Alinda Capital Partners LLC, American Roads LLC and...
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