Deloitte Aims To Shift Blame In $100M Ameriquest Suit

Law360, Los Angeles (July 18, 2012, 8:40 PM EDT) -- Deloitte & Touche LLP won approval Wednesday to file counterclaims against SBP Capital Corp. seeking to minimize its potential liability in a $100 million lawsuit accusing the accounting firm of providing bad tax advice related to SBP precursor Ameriquest Capital Corp.'s sale of mortgage-backed securities.

Attorneys representing Deloitte told Los Angeles Superior Court Judge Ronald M. Sohigian that they will file a cause of action against SBP Capital and ACC Capital Holdings Corp. for equitable indemnity. Deloitte claims Ameriquest is solely responsible for the tax liability...
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