Black Diamond Can't Flip Barclays' Win In Contract Fight

Law360 (October 8, 2019, 5:00 PM EDT) -- A New York appeals court declined Tuesday to resurrect a decade-old lawsuit brought against Barclays Bank PLC in a dispute over whether the bank defaulted on a hedge fund's derivatives contract in the height of the 2008 financial crisis.

A panel of five judges unanimously affirmed a Manhattan judge's finding in December that Barclays is not liable to a unit of hedge fund Black Diamond Capital Management LLC on a claim for breach of contract.

In a brief order, the panel said that a "fair interpretation of the evidence" supports New York Supreme Court Judge Eileen Bransten's conclusion that Barclays substantially...

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