Societe Generale Loses Bid to Block RBC Suit

Bloomberg, Joe Schneider, 6 September 2007Societe Generale and Citigroup Inc.'s CitiCapital unit lost a bid to block Royal Bank of Canada's suit to recover C$100 million ($95 million) lost to fraud at a Toronto medical clinic.The Supreme Court of Canada today denied, without comment, Societe Generale and CitiCapital's requests for a hearing. The banks sought to overturn an Ontario Court of Appeal