Liberty Mutual Pays $2.1M To Settle Surety Bond Row

Law360, New York (July 22, 2013, 1:50 PM ET) -- Liberty Mutual Insurance Co. on Friday agreed to a settlement of at least $2.1 million with the trustee for bankrupt mortgage lender TMST Inc. in Maryland bankruptcy court, mostly ending a dispute over a mortgage surety bond indemnity agreement.

Under the terms of the settlement, filed by TMST’s Chapter 11 trustee Joel I. Sher, Liberty Mutual has agreed to drop its bankruptcy claims against TMST and immediately pay $2.275 million — minus about $100,000 for previously incurred costs and up to another $100,000 for future costs...
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