2nd Circ. Will Hear AIG's $10B RMBS Suit Against BofA

Law360, New York (April 25, 2012, 8:38 PM EDT) -- The Second Circuit on Wednesday agreed to hear American International Group Inc.'s appeal of a New York federal judge's refusal to send its $10 billion suit against Bank of America Corp. over residential mortgage-backed securities back to state court.

AIG appealed the case after U.S. District Judge Barbara S. Jones refused to reconsider her ruling that the jurisdiction provisions in the Edge Act — which grant federal jurisdiction to civil cases involving national banks that arise from transactions involving international banking or banking in U.S. territories...
To view the full article, register now.