BofA Hits Back BNP, Deutsche Over Portfolio Collapse

Law360, New York (February 5, 2010, 3:20 PM EST) -- Bank of America NA has called on a federal judge to toss breach of contract suits filed by Deutsche Bank AG and BNP Paribas Mortgage Corp., which have accused the bank of botching its job to guard more than a billion dollars in collateral that backed a mortgage investment facility.

The motions to dismiss, lodged Thursday in the U.S. District Court for the Southern District of New York, were accompanied by a brief that argues the plaintiffs simply are trying to shift blame for losses stemming...
To view the full article, register now.