KBC Dodges Aramid Injunction Over $343 Portfolio Sale

Law360, New York (September 12, 2013, 1:56 PM EDT) -- A New York state judge refused Thursday to restrain KBC Group NV from selling a $343 million portfolio of distressed hedge fund interests that includes shares in Aramid Entertainment Fund Ltd., a sale that Aramid claims threatens its tax status and can't proceed without its blessing.

During a hearing in Manhattan, Judge Jeffrey K. Oing said he wouldn't stop the Belgian bank if it tried to go ahead with a sale, which it needs Aramid's approval to do anyway, but warned that it would face the...
To view the full article, register now.