| Credit Suisse Was Sued For
CLOs Now Files Confidential Settlement With Cy
Pres in SDNY
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- The
Source
SDNY COURTHOUSE,
Aug 17 –
Credit Suisse was sued
in 2017 by the Birmingham
Retirement and Relief System
and others for collateralized
loan obligation chicanery.
On August 17 U.S.
District Court for the
Southern District of New York
Judge Lorna G. Schofield held
a settlement preliminary
approval hearing. Inner City
Press covered
it.
While
counsel were chummy, Judge
Schofield to her credit
requested several pieces of
additional information,
including information about
fee sharing, disclosures about
cy pres and, notably,
deletion of her name from the
notice to avoid unnecessary
communications to her
chambers.
Counsel were apologetic and
said of course they will
revise the agreement and the
notice. There's reference to
"a sealed version of the
confidential Settlement
Agreement."
The case is City
of Birmingham Retirement and
Relief System et al v. Credit
Suisse Group AG et al.,
17-cv-10014 (Schofield)
***
Your
support means a lot. As little as $5 a month
helps keep us going and grants you access to
exclusive bonus material on our Patreon
page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA
Mail: Box 20047, Dag
Hammarskjold Station NY NY 10017
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2019 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com for
|
,
