When Jennifer McCrea -- perhaps the best-connected fundraiser in Manhattan -- meets a billionaire to ask for money, she almost never schleps to his office, instead choosing neutral ground at a local coffee shop.
Maan al-Sanea, founder of Saudi Arabia’s Saad Group, must pay damages to competitor Ahmad Hamad Algosaibi & Brothers Co. for conspiracy and breach of fiduciary duty, a judge ruled in the Cayman Islands.
Citigroup Inc. and the U.S. Securities and Exchange Commission defended their $285 million settlement of claims that the bank misled investors in collateralized debt obligations as a judge questioned whether the deal is in the public interest.
A judge dismissed a suit by Basis Capital, an Australian hedge fund suing Goldman Sachs Group Inc. for losses related to credit default swaps, ruling that the complaint failed to show any purchase of securities in the U.S.
Ahmad Hamad Algosaibi & Brothers Co., a holding company with interests from bottling to finance, may owe $2.4 billion to 10 Saudi Arabian banks, according to filings by the lenders to the country’s Committee for the Settlement of Banking Disputes.
Societe Generale SA disputed assertions by former trader Jerome Kerviel that his desk’s proximity to co-workers and supervisors meant they knew he was exceeding his group’s trading limits and faking hedges.
Australian hedge fund Basis Capital sued Goldman Sachs Group Inc. for $1 billion in a Manhattan court, claiming it was forced into insolvency after buying mortgage-linked securities that the New York-based firm created and one of its executives termed “one shi**y deal.”