Mortgage Lenders Trust Settles With BofA For $44M

Law360, New York (October 29, 2010, 7:46 PM EDT) -- A bankruptcy judge has signed off on a $44 million settlement between the liquidating trustee for Mortgage Lenders Network Liquidating Trust and Bank of America NA stemming from the subprime lender's pre-filing dealings with a Merill Lynch & Co. Inc. subsidiary.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware on Wednesday approved the deal between the trustee, Neil F. Luria of Navigant Capital Advisors LLC, and Bank of America, which allows Bank of America to pursue $44 million worth of...
To view the full article, register now.