PE Firm Revives 'Mafia' Defamation Claims In Asset Sale Row

Law360, New York (January 30, 2014, 8:03 PM EST) -- Black Diamond Capital Management LLC sought Thursday to revive its Mafia-themed defamation accusations in a lawsuit stemming from the now-resolved bankruptcy of investment management firm GSC Group Inc., telling a New York appeals court the statement at issue was clearly directed at the private equity firm.

In oral arguments before an intermediate appellate court in Manhattan, Black Diamond claimed that a quote GSC's minority lenders gave to a news reporter that allegedly compared it to the Corleone family from the classic book and film “The Godfather,”...
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