Taylor Bean, Ocala Can Share Possible Deloitte Payout

Law360, New York (August 28, 2012, 6:30 PM EDT) -- Taylor Bean & Whitaker Mortgage Corp. and subsidiary Ocala Funding LLC won a Florida bankruptcy court's permission Monday to share in any potential settlement with Deloitte & Touche LLP, which both entities claim failed to stop a $2.9 billion criminal fraud.

U.S. Bankruptcy Judge Jerry A. Funk backed an agreement between TBW and Ocala regarding how the entities plan to split any money they recover from Deloitte, which audited TBW from 2002 through 2008. Both TBW and Ocala have sued Deloitte in state court for supposedly...
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