Royal Bank of Scotland Secures Dismissal of CDO Complaint

Skadden represented the Royal Bank of Scotland in securing a dismissal of a complaint brought by Woori Bank related to the value and risks tied to collateralized debt obligations. On December 27, Judge Harold Baer, Jr. of the U.S. District Court of the Southern District of New York ruled that Woori had failed to state a claim for fraud, negligent misrepresentation or unjust enrichment.