Taylor Bean Trust, US Agree On $18.6M Claim In Debt Dispute

Law360, New York (December 19, 2012, 3:14 PM EST) -- A plan trust for the bankrupt Taylor Bean & Whitaker Mortgage Corp. on Tuesday reached an $18.6 million claims settlement in Florida federal bankruptcy court with the U.S. government over a slew of unpaid debts arising from government mortgage insurance and servicing transactions.

The U.S. Department of Housing and Urban Development and the Federal Housing Administration will now have an allowed claim in the amount of $18.6 million, the settlement said.

The settlement ends a two-year dispute over the government’s $42 million claim arising from its...
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