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Citigroup has filed a suit in Manhattan federal district court against Morgan Stanley, claiming that Morgan Stanley reneged on a deal to pay Citi $245 million in the event that an issuer of collateralized debt obligations failed to make payments on a line of credit Citi provided. According to the complaint, the liquidation of the CDO didn't cover the $245 million Citi is owed, and Morgan Stanley has refused to make up the difference.
September 29, 2009 at 12:00 AM
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The original version of this story was published on Law.Com
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