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Tilton Loses Latest Bid To Beat German Bank's Fraud Suit

Law360 (January 2, 2019, 2:35 PM EST) -- A New York state judge has refused to dismiss a German bank's $45 million fraud suit against investment manager Lynn Tilton, saying it was different enough from the U.S. Securities and Exchange Commission's failed case against her that it should be allowed to advance.

Justice Eileen Bransten rejected the argument that Norddeutsche Landesbank Girozentrale, or Nord/LB, had sued Tilton and her Patriarch Partners companies too late, and said Nord/LB's allegations had met legal requirements. The judge also said in her Dec. 27 ruling that Tilton's triumph over the SEC didn't mean the bank should be denied the chance to sue Tilton...

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