Trustee Attacks Another Wells Fargo Claim On SFC

Law360, New York (May 22, 2008, 12:00 AM EDT) -- The Chapter 7 trustee of Student Financial Corp. has asked a bankruptcy judge to reject a claim for an unliquidated amount by Wells Fargo Bank NA, saying the claim duplicates parts of another claim that Wells Fargo recently agreed to withdraw.

Wells Fargo's proof of claim says that SFC owes Wells Fargo fees, costs and expenses it incurred while acting as a collateral agent for SFC's securitization trusts. Wells Fargo was the trustee or indenture trustee for eight securitization transactions in which SFC pooled student loans...
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