ResCap Suit Over Mortgage Servicing Deal Tossed In NY

Law360, New York (July 31, 2013, 2:27 PM ET) -- A New York bankruptcy judge on Tuesday tossed a lawsuit brought by American Residential Equities LLC, trustee for purchasers of residential mortgage loans, accusing a Residential Capital LLC unit of failing to pay up under a servicing agreement, thus allowing the dispute to be handled in Florida.

U.S. Bankruptcy Judge Martin Glenn said in a written opinion that he will lift the automatic stay so that ARE’s separate lawsuit alleging similar claims in Florida federal court, which was already far along by the time ResCap entered...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required