BofA Can't Move Insurer's $619M MBS Suit Out Of Ohio

Law360, New York (August 30, 2011, 6:57 PM EDT) -- An Ohio federal judge on Tuesday denied Bank of America Corp.'s bid to move to California a suit over $619 million in mortgage-backed securities sold by Countrywide Financial Corp. to several insurers.

Bank of America claimed the complaint, filed in April by the Western & Southern Life Insurance Co. and several affiliates, was similar to several pending suits filed in the central district of California. It alleged that Western & Southern's suit should also be heard near Countrywide's headquarters, and said the case was California-centric....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.