Mayer Brown Atty Says $8.5B BofA Settlement Talks Got Testy

Law360, New York (July 8, 2013, 7:02 PM EDT) -- Although the monthslong negotiations that led to an $8.5 billion settlement over Bank of America Corp. mortgage-backed securities were tense at times, investors and the bank were motivated by their mutual desire to settle, the founder of Mayer Brown LLP's securitization practice testified Monday during a Manhattan trial.

Mayer Brown's Jason H.P. Kravitt, who represented the securities' trustee, the Bank of New York Mellon Corp., in the settlement negotiations, testified during the bench trial in downtown Manhattan about his role in the discussions in late 2010...
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