Bloomberg News reports that there were 'knowing and material omissions and misstatements' that masked Goldman Sachs’s 'significant conflict of interest with its clients', the panel wrote in a May 7 ruling, referring to marketing materials for the collateralized debt obligation known as Hudson Mezzanine Funding 2006-1.
National Australia Bank originally sought $230m in compensatory and punitive damages, according to the award notice. At the hearing, the lender requested its $80m investment and $60m in interest. The panel awarded interest at a 3% annual rate going back to December 2006.
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