US Bank, Hilton Settle Suit Over MBS-Tied Franchise Deal

Law360, New York (October 30, 2012, 5:45 PM EDT) -- A Louisiana federal judge on Tuesday dismissed U.S. Bank NA's suit against Hilton Worldwide Inc. over the termination of a hotel franchise agreement tied to mortgage-backed securities after the parties agreed to a settlement.

The deal, whose details were not disclosed, was likely finalized at a settlement conference Monday morning, according to court documents. 

As trustee for the mortgage-backed securities, U.S. Bank had sued Hilton and two Louisiana affiliates in November, accusing them of improperly trying to terminate a franchise agreement tied to an $8.72 million...
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