BoNY Makes New Bid To Dismiss $550M Suit

Law360, New York (July 7, 2008, 12:00 AM EDT) -- Bank of New York has appealed to a U.S. bankruptcy court to reconsider its request to dismiss the $550 million lawsuit filed by the Chapter 11 trustee of money manager Sentinel Management Group.

The suit, filed by Sentinel's trustee, claims that BoNY's “fundamentally flawed” accounting led to the company's collapse.

BoNY filed the appeal on June 20 in the U.S. States District Court, Northern District of Illinois. The bank first filed a motion to dismiss the suit on May 2, but that motion was denied June...
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