Morgan Stanley Avoids U.S. Legal Action by Italian Ferry Company.

The bank said Moby failed to show that Morgan Stanley interfered in Moby's relationship with its creditors or that it had done anything wrong in purchasing the company's bonds. (Bloomberg) -- Beleaguered Italian ferry operator Moby SpA dropped its request for an order blocking Morgan Stanley from trading in the company's debt or interfering in its restructuring. Morgan Stanley on Friday filed court papers deriding the U.S. lawsuit as a meritless attempt to dictate the outcome of Moby's Italian restructuring proceedings. [Extracted from the article]