Highland Pushes Texas Court To Back $28M Win Against RBC

Law360, Dallas (January 27, 2014, 8:36 PM EST) -- Highland Capital Management LP on Friday urged a Texas appeals court to affirm a $28 million judgment and argued it had wrongly been denied an additional $17 million in prejudgment interest that followed a jury’s finding that a Royal Bank of Canada unit had breached a securities trade.

The bank’s RBC Capital Markets LLC had in November asked the Fifth Court of Appeals to upend the judgment, arguing the underlying contract, which sold Highland discounted promissory notes for a struggling apparel company, had never been valid and...
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