BNP, Deutsche Beat BofA Counterclaims In $1.6B MBS Row

Law360, New York (June 5, 2012, 7:26 PM EDT) -- A New York federal judge on Monday tossed third-party claims brought by Bank of America seeking contribution for negligence and breach of fiduciary duty in an ongoing fight over more than $1.6 billion in mortgage-backed notes owned by BNP Paribas Securities Corp. and Deutsche Bank Securities Inc.

Bank of America had alleged that BNP and Deutsche Bank, serving as the exclusive dealers for notes for a facility connected to the collapse of Taylor Bean & Whitaker Mortgage Corp. and its subsidiary Ocala Funding LLC, marketed those...
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