Gardere Sues To Duck BNY Mellon Legal Costs In CDO Row

Law360, New York (September 27, 2013, 7:57 PM ET) -- The Bank of New York Mellon was hit with a suit Friday by its former law firm, Texas-based Gardere Wynne Sewell LLP, which argues it doesn’t have to indemnify the bank for legal costs from two securities suits it faced involving a collateralized debt obligation-related matter that Gardere had advised on. 

In a complaint filed in Texas federal court, the firm says it was not liable for the $1.5 million in legal fees and costs that BNY Mellon incurred defending itself in a 2009 federal court...
To view the full article, register now.