The English rule that the loser must pay a prevailing party’s legal fees should be applied to a diversity case being litigated in the Southern District of New York, Judge Charles S. Haight Jr. ruled last week.

Judge Haight, however, denied the motion of a London-based bank to dismiss a lawsuit brought by a U.S. company, RLS Associates, because RLS had failed to post a bond covering the full amount of its legal expenses. Instead, he lowered the bond to about one-sixth of the legal fees the bank had paid.

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