Cerberus Freed From Austrian Banking Exec's Refco Suit

Law360, New York (December 17, 2013, 7:51 PM EST) -- Cerberus Capital Management LP doesn't have to face allegations that it and others framed an Austrian banking executive for the notorious fraud at Refco Group Ltd., a New York state judge ruled during a hearing Tuesday, saying his court had no power over the people involved.

Judge Jeffrey K. Oing said in a bench ruling that Helmut Elsner, who served as Cerberus-owned Bawag PSK's CEO from 1995 to 2003, couldn't sue his former colleagues at the Austrian bank and others in New York because not only...
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