Deutsche, BNP Contract Claims Against BofA Cut Short

Law360, New York (March 25, 2011, 4:03 PM EDT) -- A New York federal judge put a tight limit Wednesday on contract claims Deutsche Bank AG and BNP Paribas brought against Bank of America Corp. in suits over more than $1 billion in collateral that backed a mortgage investment facility.

Judge Robert W. Sweet of the U.S. District Court for the Southern District of New York allowed the two banks' claims that Bank of America breached base indenture and security agreements it had entered into on a huge mortgage portfolio, once controlled by now-bankrupt Taylor Bean...
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