Black Diamond Capital Management Comments on Breach of Contract Litigation Against Barclays

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Black Diamond Capital Management, L.L.C.

Dec 10, 2018, 10:54 ET

GREENWICH, Conn., Dec. 10, 2018 /PRNewswire/ -- Black Diamond Capital Management, L.L.C. ("Black Diamond"), a leading alternative asset management firm with over $8 billion in assets under management, today commented on a decision issued by the New York State Supreme Court in the firm's long running lawsuit against Barclays Bank.

"We are disappointed that the Court rejected our claim and continue to believe Barclays breached a 2005 contract when it failed to return nearly $300 million in collateral to our firm in 2008," Black Diamond announced. "We are committed to continuing our legal efforts to ensure Barclays is held accountable for its actions."

Black Diamond filed a lawsuit against Barclays Bank Plc in October 2008 for breaching a total return swap agreement with Black Diamond's managed fund, BDC Finance, LLC.

About Black Diamond Capital Management, L.L.C.

Black Diamond is a leading alternative asset management firm with over $8 billion in assets under management across four complementary investment platforms: a Hedge Fund, Control Distressed/Private Equity funds, Non-Control Distressed Debt fund and CLOs.

SOURCE Black Diamond Capital Management, L.L.C.