Cadwalader Settles $1.6M Claim In Ocala Bankruptcy

Law360, Chicago (February 13, 2013, 5:39 PM EST) -- Bankrupt Taylor Bean & Whitaker Mortgage Corp. subsidiary Ocala Funding LLC said Friday that Cadwalader Wickersham & Taft LLP had agreed to drop a $1.6 million claim and pay $125,000 to Ocala, which in turn will waive any claims tied to Cadwalader's prebankruptcy legal services.

In its motion for approval of the deal, filed in Florida bankruptcy court, Ocala said that while it held potential claims against Cadwalader for legal services the firm provided before the debtor launched its Chapter 11 proceedings in July, the debtor's...
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