BofA Investors Urge Judge To Greenlight $8.5B MBS Deal
Law360, New York (November 18, 2013, 6:29 PM EST) -- An attorney for investors who negotiated an $8.5 billion mortgage-backed securities settlement with Bank of America Corp. urged a New York state judge to approve the deal Monday, saying investors opposed to the deal had never taken the stand.
American International Group Inc. and others have challenged the deal since it was first announced in June 2011 and during a nine-week evidentiary hearing before Judge Barbara R. Kapnick, who is overseeing the nonjury hearing and will decide whether to approve the settlement under a rarely used New York state law procedure, known as an Article 77 proceeding, for the judicial review...
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