US Judge Allows Mariner Atlantic to Subpoena New York Fed Records in Radiant World Case

A US judge on Tuesday authorized Mariner Atlantic Multi-Strategy LLC to subpoena payments records from the Federal Reserve Bank of New York and the Clearing House Interbank Payments System, as part of the investment fund's criminal complaint in Switzerland against iron ore trader Radiant World. US District Judge John Cronan in Manhattan ruled the subpoenas were not unduly intrusive or burdensome, noting they sought "easy-to-collect payments records related to specific accounts and a specific timeframe." He said the subpoenas were appropriate because Mariner could not otherwise obtain the records, and Swiss courts were "receptive" to US assistance. Radiant World did not immediately respond to a request for comment outside business hours.