Crédit Agricole Wins Dismissal of Intesa CDO Suit

Skadden secured the dismissal with prejudice of claims brought against Crédit Agricole Corporate and Investment Bank (CA-CIB) by Intesa Sanpaolo SpA. Intesa alleged it was defrauded in a collateralized debt arrangement by CA-CIB that caused the company a loss of more than $180 million. On Sept. 10, 2013, Judge Robert W. Sweet of the U.S. District Court for the Southern District of New York dismissed the case, finding that Intesa’s federal claims are time-barred because it did not sue until at least one month after the five-year statute of repose expired.