Citibank files appeal in AIB rogue trader case

Citibank North America has hit back against AIB in a costly 13-year legal marathon in New York over who was to blame for the losses of rogue trader John Rusnak.

Citibank has mounted an appeal against a court ruling that appeared to favour AIB, according to court documents filed last week.

In a 23-page document, Citibank requested the Manhattan court to reconsider part of its June 30 judgment. Citibank claims that AIB “has not shown by clear and convincing evidence a requisite element of its fraud claims”.