Law360, New York ( August 3, 2012, 1:08 PM EDT) -- On July 3, 2012, the United States Court of Appeals for the Second Circuit refused to vacate an arbitration award against Goldman Sachs Execution & Clearing LP. The court left intact the arbitration panel's finding that the clearing firm was liable as the "initial transferee" of a fraudulent transfer by a customer engaged in a Ponzi scheme....
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