Royal Park Ends 6-Year RMBS Fight With BNY Mellon

Law360 (March 3, 2020, 5:50 PM EST) -- Royal Park Investments SA/NV is walking away from its suit accusing BNY Mellon of bundling thousands of toxic loans into residential mortgage-backed securities, according to a joint voluntary dismissal bid filed Monday in New York federal court.

There was no mention in the joint motion of a potential settlement or what the terms of such an agreement would be, but the two sides asked the court to permanently toss the six-year-old suit.

Royal Park's 2014 case against Bank of New York Mellon Corp. is one of several suits in the wake of the 2008 financial crisis that accuse RMBS trustees of...

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