Want to get this daily news briefing by email? Here’s the sign-up.
WHAT WE’RE WATCHING
BIG BUCKS – Latham & Watkins has secured a $1 billion judgment on behalf of UBS Securities in a long-running contract dispute against bankrupt hedge fund manager Highland Capital Management, dating back to the early days of the financial crisis. As Tom McParland reports, a New York trial court Justice Marcy Friedman ordered two funds affiliated with Highland to pay $520 million in damages and another $520 million in statutory interest for their refusal to cover UBS’ losses under a failed agreement to securitize collateralized loan obligations and credit-default swaps in 2008.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
