Aramid Entertainment Sues KBC To Stop $343M Portfolio Sale

Law360, Los Angeles (July 11, 2013, 8:53 PM EDT) -- Aramid Entertainment Fund Ltd. hit Belgium-based KBC Group NV with a lawsuit in New York state court Wednesday, asking the court to halt KBC’s sale of a $343 million portfolio of distressed hedge fund interests that would render KBC unable to satisfy liabilities to Aramid.

Aramid’s complaint raises allegations that KBC perpetrated two sets of related acts of “wrongdoing and deceit.” Aramid said the acts have caused it tens of millions of dollars in damages and threatens to cause many millions more in losses to the...
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