Gibraltar Private Bank & Trust and TD Bank, Gibraltar face trial

two banks where Ponzi schemer Scott Rothstein laundered money will face a trial over multimillion-dollar claims by victims of the scam, a Broward County judge has ruled. Circuit Judge Jeffrey Streitfeld declined to entirely dismiss any of the suit’s defendants. In an order, dated Dec. 9 and distributed by plaintiffs’ attorneys on Tuesday, Streitfeld ruled that all claims against the two bank defendants, TD Bank and Gibraltar Private Bank & Trust, would go forward. A hearing was set Tuesday discuss a trial schedule. TD Bank said because it was pending litigation it would not comment other than to say "it believes and expects the facts to prove...

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Spanish Lenders May Need $120 Billion, Moody’s Says - Bloomberg

Spanish Lenders May Need $120 Billion, Moody’s Says - Bloomberg: "Spanish banks that helped spur the country’s property boom with mortgages and loans to developers may need as much as 90 billion euros ($120 billion) in capital, Moody’s Investors Service said. That estimate is based on a scenario in which lenders would need a Tier 1 capital ratio, a measure of their financial strength, of as much as 12 percent to tap funding, Moody’s said in a statement. Spanish banks declined today, led by Banco Santander SA, the country’s biggest. “Given the situation after Ireland where the banks will have to be recapitalized to a much higher capital level,...

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