Landesbank's Challenge To Mortgage Receiver Stayed In Del.

Law360, Wilmington (April 1, 2013, 8:33 PM EDT) -- A Delaware judge declined Monday to rule on Landesbank Baden-Wurttemberg's bid to disqualify a receiver tapped to oversee properties securing a $900 million mortgage, staying the German bank's suit in favor of an earlier action brought in Washington.

Landesbank opposed the receiver's appointment in Washington court but had refrained from challenging the move on contractual grounds, and Vice Chancellor Sam Glasscock III found no viable reason for the Delaware court to take up an argument which “could, and appropriately should, have been raised” in the original...
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