We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Ambac Can't Move Mortgage Fee Suit To NY, Judge Says

Law360, Los Angeles (January 3, 2018, 6:43 PM EST) -- A California federal judge on Tuesday rejected a bid by Ambac Assurance Corp. to transfer to New York a suit brought by a group of military housing developers accusing it and another mortgage corporation of bilking them for hundreds of millions of dollars in excessive fees.

Danny Ray and Chetan Marfatia, formerly the managing directors of GMAC Commercial Mortgage Corp. and Ambac, respectively, had asked the court in September to move the case to New York because it was more convenient for some witnesses and because...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.