BofA Appeals Approval Of Taylor Bean, FDIC Loan Deal

Law360, New York (October 12, 2009, 6:07 PM EDT) -- Bank of America Corp. has appealed a bankruptcy judge's approval of a mortgage loan agreement between Taylor Bean & Whitaker Mortgage Corp. and the Federal Deposit Insurance Corp. in its role as the receiver for Colonial BancGroup Inc., claiming the deal violates an injunction Bank of America has secured in a separate case against Colonial related to approximately $1 billion in cash and loans.

Bank of America filed a notice of appeal Friday in the U.S. Bankruptcy Court for the Middle District of Florida. The case...
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