RBC Dexia back in court over hedge fund losses

Custodian faces fresh 'damages' claim in drawn-out court battle over assets lost in Lehman collapse

RBC Dexia faces fresh legal challenges from a hedge fund that defeated the custodian in court over lost assets relating to the collapse on Lehman Brothers, in a case that highlights the regulatory inconsistencies across Europe's fund management and custody industries.

Paris-based Delta Alternative Management has sued the custodian for alleged "damages" it suffered while fighting to try and recover assets it lost through the collapse of Lehman Brothers.

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