Deutsche Bank Gets Stay Of RMBS Indemnification Suit
By Jon Hill (August 13, 2018, 7:53 PM EDT) -- A New York federal judge has paused a proposed class action that accuses a Deutsche Bank unit of improperly funding its defense in a residential mortgage-backed securities trustee suit using money from the same trusts it is alleged to have mismanaged, finding that it would be more efficient to resolve the trustee suit first.
U.S. District Judge Alison J. Nathan ordered Friday that the so-called indemnification suit against Deutsche Bank National Trust Co. be stayed until the underlying RMBS trustee suit against the bank is wrapped up. Royal Park Investments SA/NV is the plaintiff behind both suits, which focus on 10...
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